Sri Lanka’s official reserve assets increase in Jan 2023

Sri Lanka’s official reserve assets at the end of January 2023 stood at USD 2,120 million, the Central Bank of Sri Lanka says.

This indicates an increase of 11.7% from the official reserve asset figure of USD 1,898 million in December 2022.

However, the current official reserve assets include the swap facility from the People’s Bank of China, equivalent to around USD 1.4 billion, which is subject to conditionalities on usability.

Meanwhile, foreign exchange reserves, the main component of these official reserve assets, increased from USD 1,863 million in December 2022 to USD 2,064 million in January 2023. It is an increase of 10.8%.