Sri Lanka forex reserves drop to US$7.5bn in Nov

ECONOMYNEXT – Sri Lanka’s forex reserves dropped 259 million US dollars to 7.52 billion US dollars in November official data shows.

Official reserves are made up of central bank reserves and fiscal reserves, which can vary depending on debt repayments.

Sri Lanka’s official reserves were 7.78 billion dollars in October, up slightly from 7.63 billion dollars a month earlier.

Data showed that in October the central bank bought 35 million dollars from the market and sold 17 million US dollar.

Sri Lanka’s monetary policy change around July/August from keeping a peg strong to injecting liquidity, data shows. (Colombo/Dec07/2019)