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Sri Lanka Foreign Reserves Reach 3 Billion USD
Posted 29,December

By Chaveendra Dunuwille

In Local News

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Despite all the uncertainty and speculation, Central Bank Governor Ajith Nivard Cabraal has managed to stay true to his prior announcements, as the reserve position of the Central Bank of Sri Lanka reached approximately USD 3.1 billion today.

Official foreign reserves had dropped to as much as 1.5 billion US dollars in November, amid continued liquidity injections mainly made to sterilize interventions.

As a result of the country printing 1.5 trillion rupees over the past two years, Sri Lanka lost 5.5 billion US dollars of reserves after, while an expansion of reserve money and inflation has absorbed the rest.