Sri Lanka official reserves rebound to USD7.9bn in February

Mar 16, 2018 (LBO) – Sri Lanka’s gross official reserves have improved to 7,914.33 million US dollars by the end of February from 7,672.75 million dollars in January, official Central Bank data showed.

Reserves improved to 7,952.58 million dollars by the end of last year but reduced in January.

Foreign currency reserves were 6,894.42 million dollars and reserves in gold were 945.07 million dollars in February. Reserve position in the IMF was 69.19 million dollars.

Central Bank’s Treasury bill holdings were down from 20,831.03 million rupees by January to 13,262.03 million rupees by February.

Central Bank purchases of foreign exchange from commercial banks at market rates amounted to 93.00 million US dollars in the month of February without any sales.

During the year up to 16 March 2018, the rupee depreciated against the US dollar by 2.0 percent.

Rupee depreciated against the pound sterling by 5.4 percent, euro 4.9 percent, Japanese yen 7.9 percent and Indian rupee 0.6 percent during this period.