Sri Lanka’s reserves down to USD 2.6bn in September; YTD rupee depreciation 8.2-pct

Sri Lanka’s official reserves were 2.6 billion US dollars (USD 2,581.3mn) by the end of September, down from 3.5 billion US dollars in August, the latest Central Bank data showed.

By the end of September, the foreign currency reserves were 2,006.4 million dollars while the reserve position in the IMF was 67.
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4 million dollars.

Special Drawing Rights were 127.9 million, reserves in Gold were 378.4 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 has been converted into US dollars.

The official reserve assets, however, do not include the swap facility signed with the People's Bank of China (PBoC) of RMB 10 billion (equivalent to approximately USD 1.5 billion).

The outstanding stock of T-Bills and T-Bonds held by foreigners has not changed during this week compared to the previous week.

As of yesterday, the Central Bank Treasury bill holdings at the face value was 1,450,211.32 million rupees.

During the year up to 08 October 2021, the Sri Lankan rupee has depreciated against the US dollar by 8.2 percent.

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