Maldives Monetary Authority (MMA) has said that the State Reserves have increased in the third quarter.

Statistics for October 2021 released today by the MMA show that the Reserve was at USD 1,016.7 million; a 46 percent increment from the third quarter of the previous year. At the same time period last year, the Reserve was at USD 696.1 million.

According to MMA statistics, this is an increment from the first two quarters of this year as well. The first quarter of 2021 had USD 844.7 million and USD 912.4 million in the second quarter. The first quarter of this year has recorded an increment of USD 103.1 million from the first quarter of last year. It is a 14 percent increment compared to the USD 741.6 million in Reserve in the first quarter of last year.

The second quarter of this year also has an increment of USD 209.9 million from the first quarter of last year marking a 30 percent increment, compared to the USD 702.5 million in Reserve at the end of the second quarter of previous year.

The statistics show USD 847.3 million in Reserve at the end of August 2021 while the August of the previous year reported USD 569.8 million; an increment of 304.5 million.