- Monthly usable reserve had recorded a 27 percent increase 

- Official Reserve had reached 815.82 million USD by the end of May

Statistics released by the Central Bank, Maldives Monetary Authority has shown that usable reserve has climbed to 217 million USD, by the end of the first 5 months of the year.

Statistics released by MMA show a significant monthly increase in usable reserve by the end of May. ikewise the figure which stood at 171.3 million USD by the end of April had risen to 217.88 million USD , which is an increase of 46.58 million USD.

Although there was an increase in the usable reserve, there was a fall in the official reserve assets, by the end of May, when compared to April. The official reserves which stood at 865.34 million USD by the end of May stood at 815.82 USD ,  which is 5 percent decrease. 

The Maldivian government has been taking some strong measures to build the foreign currency reserve. This includes making it a legal obligation for the resorts to exchange a certain percentage of their income to the banks. And from 1st June the banks also have a legal obligation to sell 90 percent of the foreign currency they receive to MMA.

The incumbent Administration’s unwavering commitment to the ongoing fiscal reform efforts has seen Fitch Ratings, one of the world's largest credit rating agencies, maintain its CC rating for the Maldives.

The rating reflects Fitch's assessment that the country’s tourism sector continues to expand and gross foreign exchange (FX) reserves have increased following support from the Reserve Bank of India (RBI).