US$ 855 million available in official reserve

Central Bank, Maldives Monetary Authority (MMA) has stated that the total funds available in the Maldives’ official reserve is at US$ 855.7 million.

Statistics released by the bank show the reserve had US$ 757.5 million available during February 2020. The amount was at US$ 830.7 million at the end of February this year and increased to USD 855.7 by the end of March. This is an increase of 13 percent when compared to the funds available in February 2020, and an increase of 3 percent from January to March this year.

The reserve is usually utilized to buy grains and other consumables. The country's economy has suffered heavily due to the effects of the COVID-19 pandemic.