Country’s official reserves down by 4.2%
The amount of official reserves in the country has decreased by 4.2% in October compared to September this year.
According to Central Bank of Sri Lanka (CBSL) sources, the amount of official reserve assets in the country was US$ 1,779 million in September, dropping to US$ 1,704 million in October. As such, the central bank states that the amount of official reserves in the country has decreased by 4.2% in October compared with that of September.
Meanwhile, compared to the export revenue of September 2021, the export revenue in September this year has increased by 4.3%.
According to the CBSL, export income in September this year has increased to US$ 1,079 million. But compared to the export income of August this year, the export income in September has decreased.
However, compared to August this year, the import cost of Sri Lanka has decreased by 15.8% in September, according to CBSL reports. It is noted that the cost of imports to the country in August was US$ 1,486 million, and it decreased to US$ 1,284 million in September. Also, compared to the amount of remittances of foreign employees in August this year, there has been an increase in the amount of remittances in September.
In August, foreign workers’ remittances were reported to be US$ 325 million. The central bank states that the amount of remittances in September is US$ 359 million. It is said to be the highest amount of remittances received by foreign workers so far this year.
Meanwhile, the CBSL states that the gross official reserves amount to US$ 1.8 billion by the end of September this year, which includes the foreign exchange facility of US$ 1.4 billion received from the People’s Bank of China.
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