Gold reserves down by 54-pct in December; USD 3.1bn reserves include Chinese swap: CBSL

Sri Lanka’s official reserve assets were 3.1 billion US dollars (USD 3,137.6 mn) by the end of December, up from 1.6 billion US dollars in November, the latest Central Bank data showed.

Accordingly, the official reserves include the swap facility signed with the People’s Bank of China (PBoC) of RMB 10 billion (equivalent to approximately USD 1.5 bn).

By the end of December, the foreign currency reserves were 2770.6 million dollars while the reserve position in the IMF was 67.0 million dollars.

Special Drawing Rights were 123.6 million dollars and other reserve assets were 1.1 million dollars.

Of the IMF’s allocation of SDR 554.8 million received by Sri Lanka on 23 August 2021, a large portion has been converted into US dollars.

Reserves in Gold were 175.4 million dollars by the end of December, down from 382.2 million US dollars in November, the latest Central Bank data showed.

The outstanding stock of T-Bills and T-Bonds held by foreigners has increased by 9.17 percent in rupee terms during the reporting week compared to the previous week.

As of today, the Central Bank Treasury bill holdings at the face value was 1,416,391.55 million rupees.

Meanwhile, for the past seven days, the Sri Lankan rupee has depreciated against the US dollar by 0.4 percent.

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