Money & Currencies

External sector: Official reserves surpass $ 7 b

Sri Lanka’s official reserve assets have surpassed the $ 7 billion mark for the first time since August 2020.

According to the latest data from the Central Bank of Sri Lanka (CBSL), the country’s official reserve assets stood at $ 7,284 million at end-February, reflecting a 6.6% increase from $ 6,832 million recorded at end-January.

Foreign currency reserves, which account for the largest component of official reserves, increased from $ 6,687 million to $ 7,057 million during February.

Meanwhile, the Central Bank’s gold reserves recorded a notable increase, rising by 83.4% from $ 109 million to $ 200 million during the same period.

The figure includes proceeds received under the swap arrangement with the People’s Bank of China, according to the Central Bank.

Source: The morning