August 09, Colombo (LNW): Sri Lanka’s gross official foreign exchange reserves climbed to US$6.591 billion at the end of July, marking a further improvement in the country’s external financial position, according to newly released Central Bank data.
The reserve stock increased by US$133 million from the US$6.458 billion recorded in June, representing a month-on-month growth of around 2.1%.
The latest figures indicate that Sri Lanka continued to strengthen its foreign exchange buffer during July, providing additional support for the country’s external payment position.
Gold holdings also edged upwards during the month. Central Bank figures show that the value of Sri Lanka’s gold reserves increased by US$1 million, reaching US$192 million in July from US$191 million a month earlier.
The rise in both overall reserves and gold holdings comes as authorities continue efforts to rebuild the country’s external buffers and maintain greater stability in the foreign exchange market.