Sri Lanka official reserves fall to US$6.4bn in May 2020

Sri Lanka’s gross official reserves were down by US$715.92 million to US$ 6,493.6 million in May 2020 from US$ 7,209.52 in April 2020, latest Central Bank data showed. By the end of May, foreign currency reserves were 6,046.8 million dollars while the reserve position in the IMF was 65.7 million dollars. Reserves in Gold were 372.7 million and other reserve assets were one million US dollars. During the year up to 12th June 2020 the Sri Lankan rupee depreciated against the US dollar by 1.9% . Given the cross-currency exchange rate movements, the Sri Lankan rupee appreciated against the Pound sterling (2.5 percent) and the Indian rupee (4.8 per cent) while depreciating against the Euro (2.6 per cent) and the Japanese yen (3.5 per cent) during this period.  

The post Sri Lanka official reserves fall to US$6.4bn in May 2020 appeared first on Adaderana Biz English | Sri Lanka Business News.



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