Sri Lanka's Foreign Reserves Rise to USD 6.46 Billion in October
Sri Lanka's Foreign Reserves Rise to USD 6.46 Billion in October
Anuradha Indrajith
07-Nov-2024 10:44:46
The Central Bank of Sri Lanka (CBSL) has reported a significant rise in the country's official reserve assets, which reached USD 6.46 billion in October 2024. This marks a 7.9% increase from USD 5.99 billion in September 2024.
The increase includes foreign currency reserves, the largest component of the assets, which rose to USD 6.38 billion, a 7.3% rise from the previous month. Additionally, official gold reserves grew by 5.8%, reaching USD 42 million in October from USD 40 million in September.
Notably, the reserves include proceeds from a currency swap with the People’s Bank of China, valued at USD 1.4 billion, though these funds are subject to certain usability conditions.
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