MMA reserve decreases by MVR 23 million within one month

Reserve for the Maldives Monetary Authority (MMA), the Maldives central bank, has gone down by MVR 23 million within a one-month period.

MMA’s financial position as of the end of April 2013 shows that the bank had a reserve of MVR 634,511,025.10 by the end of March this year, which had gone down to MVR 610,811,329.74 by the end of April, a reduction of MVR 23 million within the one-month period.

The statistics also show that the total foreign currency financial assets has increased by MVR 1 million, where as the local currency financial assets has decreased by MVR 25 billion within the month. The decrease in local currency financial assets therefore contributed to the MVR 254 million decrease of MMA’s total financial assets.

The central bank’s financial position statement shows that the overall expenditure had decreased by MVR 233.33 million in April 2013 compared to March 2013.