Gross international reserves increases to $703.7 m

Maldives Monetary Authority (MMA) has announced in its Monthly Economic Review for June 2015, that gross international reserves stood at $703.7 million at the end of May 2015.

This is an increase of 65 percent compared to the corresponding period in 2014.

In the report published on 30 June 2015, MMA said that out of this gross international reserves of $703.7 million, usable reserves amounted to $229.7 million.

This is an increase of 12 percent and 41 percent on monthly terms and annual terms, respectively.

Gross reserves in terms of months of imports stood at 4.2 months at the end of May 2015, MMA said.