Maldives’ Gross international reserves, (official reserve assets) increased to USD 832 million in the first six months of the year, central bank, Maldives Monetary Authority (MMA) figures have shown.
MMA’s Economic Update for July showed that Gross international reserves increased to USD 832.4 million at the end of June 2025, from USD815.8 million at the end of May 2025.
This also depicted a growth of USD 323.2 million from the USD 509.2 million recorded at the end of June 2024.
According to MMA data, despite the growth in official reserves, usable reserves have declined during this period. Usable reserves stood at USD 203 million as of June down by 6.8 percent from the USD 217.9 million recorded in May this year.
The decline was primarily down to an increase in short-term foreign debt obligations as USD 742.5 million was paid in May, compared to the USD 774.5 million in June.
With pressures on reserve levels persisting, the government has introduced measures to reinforce foreign currency holdings. A legislation passed earlier this year mandates that a portion of tourism sector revenue be exchanged through domestic banks.
Initially, banks were required to sell 60 percent of these funds to the MMA, but an amendment that took effect on 1 June raised this threshold to 90 percent, ensuring a greater influx of foreign currency into official reserves.