The official usable reserve of the Maldives has declined in June.
According to the Maldives Monetary Authority (MMA), the official reserve stood at US$ 509.2 million as of end of June. This is a US$ 17 million increase from the US$ 492.2 million recorded in May.
Despite the overall increase in the total reserve, the usable reserve saw a decline compared to the previous month. Usable reserves stood at $66.9 million at the end of June, down from $73.1 million at the end of May.
The Maldives requires more than $70 million monthly to import basic commodities such as oil, staple foods and essential medicines. This amount is covered from the usable reserve.
