National reserve decreases by 5% - MMA

According to Maldives Monetary Authority (MMA), the national reserve of Maldives has decreased by 5 percent by the end of July. 

MMA statistics show that there was USD 571.8 million in the national reserve at the end of July. This is a 7% yearly decrease and a 5% monthly decrease.

The usable reserve was USD 207.6 million. This is 17% lower than the same period last year.

MMA stated that usable reserve has decreased because of the increase in the amount of foreign currency sold by the central bank of Maldives, Maldives Monetary Authority.