Gross official reserves stand at US $ 6.5bn in November

Sri Lanka’s gross official reserves (GOR) rose to US $ 6.5 billion by end-November 2024, up from US $ 4.4 billion at the close of 2023, the Central Bank said, reflecting continued recovery in foreign exchange holdings.

The reserves include a swap facility with the People’s Bank of China (PBOC), which remains subject to conditionalities on usability.
The Central Bank also reported net foreign exchange purchases of US $ 327 million from the domestic market in November on a trade date basis, signalling the ongoing efforts to strengthen the external buffers.

At end-November, the GOR provided an import cover of 4.2 months, including the PBOC swap.