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Sri Lanka official reserves at USD 2.2Bn in Feb 2023

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Gross official reserves stood at US dollars 2.2 billion as at end February 2023, the Central Bank of Sri Lanka says.

This included the swap facility from the People’s Bank of China, equivalent to around US dollars 1.4 billion, which is subject to conditionalities on usability.

The Central Bank recorded a net absorption of foreign exchange from
the market in February 2023, resulting in a marginal improvement in liquid reserves by end of February 2023.

Meanwhile, the first tranche of the Extended Fund Facility (EFF) from the International Monetary Fund (IMF) was received in March 2023 amounting to SDR 254 million (about
US dollars 333 million).

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