Sri Lanka’s official reserves up by 7.9% in October

Sri Lanka’s official reserve assets have significantly increased to USD 6.46 billion in October 2024, according to the Central Bank of Sri Lanka (CBSL). 

This is an increase of 7.9% compared to the USD 5.99 billion recorded in September 2024.

Sri Lanka’s foreign currency reserves, which is the main component of official reserve assets, have also shown a significant increase to USD 6.38 billion. This is an increase of 7.3% compared to USD 5.94 billion in September 2024.

In the meantime, the official gold reserves have increased to USD 42 million in October from the USD 40 million in September 2024.

This is an increase of 5.8% compared to the month of September, according to the CBSL.

However, this includes proceeds from the swap with the People’s Bank of China (PBoC) equivalent to around USD 1.4 billion, which is subject to conditionalities on usability.