Sri Lanka’s Gross Official Reserves (GOR) increased to USD 6.0 billion by the end of August 2024, up from USD 4.4 billion in December 2023, according to the Central Bank of Sri Lanka. This figure includes the swap facility from the People’s Bank of China (PBOC), which is subject to conditionalities on its usability.
In August 2024, the Central Bank made net purchases of USD 149 million from the domestic foreign exchange market. The GOR, including the PBOC swap, provided an import coverage of 4.0 months as of the end of August.
The Central Bank also reported a net outflow of USD 30 million from foreign investments in the government securities market in August, contributing to a cumulative net outflow of USD 251 million between January and August 2024.
Conversely, foreign inflows to the Colombo Stock Exchange (CSE), covering both primary and secondary market transactions, recorded a net inflow of USD 13 million in August, resulting in a cumulative net inflow of USD 44 million during the first eight months of 2024.
Worker remittances rose to USD 577 million in August 2024, compared to USD 499 million in August 2023. Monthly remittances have consistently exceeded USD 500 million for six consecutive months since March 2024.
