Sri Lanka’s official reserve assets drop in Oct 2022

November 4, 2022 10:17 pm

Official reserve assets of Sri Lanka at the end of October 2022 were at USD 1,704, the Central Bank of Sri Lanka (CBSL) says.

This is a decrease of 4.2% from the official reserve assets figure of USD 1,779 million in September 2022.

This includes the swap facility from the People’s Bank of China, equivalent to around USD 1.4 billion, which is subject to conditionalities on usability.

The Central Bank has continued to supply forex liquidity to finance essential imports by utilising inflows to gross official reserves.

According to the Central Bank, the level of liquid reserves continues to remain at a significantly low level by the end of September 2022.

Total foreign assets, which consist of gross official reserves and gross foreign assets of the banking sector, amounted to USD 6 billion at the end of September 2022, the Central Bank said further.

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