Maldives’ National Reserve Sees USD 49 Million Increase in August

The Maldives Monetary Authority (MMA) has reported a rise in the country’s national reserve, with an increase of USD 49 million at the end of August. This brings the total reserve to USD 444 million, up from USD 395 million at the end of July.

According to MMA statistics, the usable reserve currently stands at MVR 61 million, which is sufficient to cover one month’s worth of imports.

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The national reserve has fluctuated throughout the year, peaking at USD 622 million in April and hitting its lowest point in July at USD 395 million. It began the year at USD 551 million.

MMA has projected that the reserve, which includes the usable reserve and the sovereign development fund, will surpass USD 606 million by the end of 2024.