Sri Lanka’s reserves down to USD 2.3bn in October; YTD rupee depreciation 8-pct

Sri Lanka’s official reserves were 2.3 billion US dollars (USD 2,267.5mn) by the end of October, down from 2.
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6 billion US dollars in September, the latest Central Bank data showed.

By the end of October, the foreign currency reserves were 1,686.1 million dollars while the reserve position in the IMF was 67.7 million dollars.

Special Drawing Rights were 128.5 million, reserves in Gold were 384.1 million and other reserve assets were 1.1 million US dollars.

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

Official reserves do not include the swap facility signed with the People's Bank of China (PBoC) of RMB 10 bn (equivalent to approximately US$ 1.5 bn).

The outstanding stock of T-Bills and T-Bonds held by foreigners has slightly increased 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 1,460,550.62 million rupees.

During the year up to 5 November 2021, the Sri Lankan rupee has depreciated against the US dollar by 8.0 percent.

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