MMA

The central bank, Maldives Monetary Authority (MMA), has revealed in its financial statement as at 31 December 2014, that its Foreign Currency Financial Assets increased by MVR 9.83 million between November and December 2014.

The bank said that its Local Currency Financial Assets decreased by MVR 4.4 million, resulting in an increase of MVR 9.78 million in its Total Financial Assets for this period.

Foreign Currency Financial Assets saw a decrease of MVR 67 million in November 2014.

The bank’s Total Financial Liabilities was at MVR 9.81 billion, while its Total Liabilities was at MVR 1.13 billion at the end of December 2014.

MMA said that the Foreign Asset Revaluation Reserve comprises of gains and losses arising from any change in the valuation of the Authority's assets or liabilities in gold, foreign currencies or other units of account, as a result of alterations of the external value of the Rufiyaa, or of any change in the values, parities, or exchange rates in respect of such assets in relation to the Rufiyaa in accordance with Chapter V, section 28 of the MMA Act.