MMA says usable reserves remain stable despite decline in official reserves
This was USD 11.9 million lower than the previous month but represented an increase from USD 203 million recorded at the end of June 2025.
The Maldives Monetary Authority (MMA) has reported that the country's official foreign exchange reserves fell to USD 686.8 million at the end of June, while stating that usable reserves remain at an adequate level.
According to statistics released by the central bank on Thursday, official reserves declined by USD 18 million compared with May.
On an annual basis, official reserves were down by USD 145.6 million, or 17.5 per cent, from USD 832.4 million recorded at the end of June last year.
Despite the decline in official reserves, usable reserves stood at USD 248.9 million at the end of June.
This was USD 11.9 million lower than the previous month but represented an increase from USD 203 million recorded at the end of June 2025, a year-on-year rise of about 23 per cent.
The MMA said the reduction in official reserves during June was mainly due to higher foreign currency expenditure.
According to the central bank, the amount of US dollars sold to the market under its foreign exchange intervention policy increased by 43 per cent compared with May, reflecting higher demand for foreign currency from banks and importers.
The MMA said the increase in dollar sales resulted in higher expenditure to support the exchange rate of the Maldivian rufiyaa.
Official reserves have fallen by about USD 645 million since reaching USD 1.33 billion in March this year, with the largest monthly decline recorded in April.
