The Maldives Monetary Authority (MMA) reports that the country’s official reserve assets reached USD 810.05 million at the end of August, up 4.5 per cent from July’s USD 774.5 million. 

The rise reflects stronger tourism-driven foreign currency inflows and new measures requiring banks to channel 60 per cent of their dollar receipts into national reserves.

Additional support came from USD 117.22 million in securities and other foreign assets not formally included in the headline reserve figure, signalling improved overall foreign-currency strength. A USD 400 million currency swap with the Reserve Bank of India under the SAARC framework has also provided crucial liquidity.

However, the positive trend in gross reserves is offset by a surge in short-term foreign exchange obligations, which increased to USD 738.63 million in August, up from USD 688.24 million the previous month. After deducting these liabilities, usable reserves decreased by 11.5 per cent to USD 188.64 million, compared with USD 213.22 million in July.

The Government says it remains focused on strengthening the reserve position as more than USD 1 billion in external payments are due next year. While gross reserves continue to grow, officials note that keeping pace with rising short-term commitments will be critical to ensuring adequate usable foreign-currency buffers for the Maldives’ economy.