Sri Lanka forex reserves hit US$9.9bn: central bank governor
Apr 26, 2018 16:58 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka’s foreign exchange reserves have grown to US$9.9 billion so far this year, Central Bank Governor Indrajit Coomaraswamy said.
The central bank has bought US$450 million from the market this year, he said in a speech at the presentation of the bank’s annual report for 2017 Thursday.
The central bank has followed a flexible exchange rate policy and not intervened to sell dollars since March 2017, Coomaraswamy said.
The purchase of US$1.6 billion was a major factor in building non-debt creating reserves, he said.
(COLOMBO, April 26, 2018)