Maldives gross international reserves fall by 3 percent in June

Maldives central bank, Maldives Monetary Authority (MMA) has revealed that the country’s gross international reserves has fallen by 3 percent in June this year.

The authority’s July 2013 Monthly Economic Review published yesterday shows that the gross international reserves had gone down by $11.2 million in June, compared to the previous month of May.

However, the reserve registered an annual increase of 8 percent during June 2013, compared to June 2012.

The review shows that the gross international reserves held $344.4 million by the end of June 2013, enough for 2.7 months of imports, in contrast to $320 million by the end of June 2012. The reserve held 2.6 months of imports at the end May this year.