Thursday Nov 14, 2024
Thursday Nov 14, 2024
Friday, 18 June 2021 00:30 - - {{hitsCtrl.values.hits}}
The Central Bank said yesterday the country’s gross official reserves stood at $ 4.5 billion at end-April, which provided an import cover of 3.1 months.
It also said total foreign assets, which consist of gross official reserves and foreign assets of the banking sector, amounted to $ 7.1 billion at end April 2021, providing an import cover of 4.9 months.
“The level of reserves reported above does not include the three-year bilateral currency swap facility amounting to CNY 10 billion (approximately $ 1.5 billion) between the People’s Bank of China (PBoC) and the CBSL,” it added.
Central Bank said a marginal net foreign investment inflow was recorded in the Government securities market in April. However, cumulative net outflow from the Government securities market during the first four months of 2021 amounted to $ 5 million.
The total outstanding exposure of foreign investment in the rupee-denominated Government securities market remained low at $ 31 million by end-April.
It also reported a net outflow of $ 16 million was recorded from the CSE in April. On a cumulative basis, the CSE recorded a net outflow of $ 107 million during the first four months of 2021.
Gross inflows on account of long-term loans to the Government in April included the receipt of the syndicated loan facility from the China Development Bank amounting to $ 500 million.
