Sri Lanka official reserves down to USD7.5bn by end-March

Apr 09, 2020 (LBO) – Sri Lanka’s gross official reserves were 7.5 billion US dollars (USD7,525.7mn) by the end of March, down from 7.9 billion US dollars in February, the latest Central Bank data showed.

By the end of March, the foreign currency reserves were 7,119.1 million dollars while the reserve position in the IMF was 65.3 million dollars.

Special Drawing Rights were 0.5 million, reserves in Gold were 339.7 million and other reserve assets were one million US dollars.

During the year up to 09th April 2020, the Sri Lankan rupee has depreciated against the US dollar by 9.1 percent.

Given the cross-currency exchange rate movements, the Sri Lankan rupee depreciated against the pound sterling (3.7 percent), the Indian rupee (3.2 percent), the euro (6.1 percent) and the Japanese yen (8.8 percent) during this period.

The outstanding stock of T-bills and T-bonds held by foreigners has decreased by 12.11 percent during this week compared to the previous week.