Sri Lanka’s gross official reserves fell US $886 million to US $7,637.6 million in September 2019 from US $8,523.7 in August, latest Central Bank data showed.

By the end of September, foreign currency reserves were 6,637.3 million dollars while the reserve position in the IMF was 65.2 million dollars.

Reserves in Gold were 926.7 million and other reserve assets were 1.1 million US dollars.

Moreover, during the year up to 11th October 2019, the Sri Lanka rupee has appreciated against the US dollar by 1.2%

Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other reserve assets held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets.

Gross official reserves can fall without any balance of payments pressure when Treasury reserves are used to repay loans.