Gross official reserves of Sri Lanka were estimated at US $ 7.8 billion at end October 2019, equivalent to 4.7 months of imports, the latest external sector data outlines.

Further, the total foreign assets consisting of gross official reserves and foreign assets of the banking sector amounted to US dollars 10.4 billion at end October 2019, equivalent to 6.3 months of imports.

Meanwhile, the Sri Lankan rupee remained appreciated during the year up to end October 2019, despite some depreciation pressure observed in October 2019.

Further, the Sri Lankan rupee appreciated by 1.0 percent against the US dollar during the year up to 13 December 2019.

Reflecting cross-currency movements, the rupee appreciated against other major currencies except the Pound sterling and the Canadian dollar during this period.