Sri Lankan currency reserves dipped 2% by end-February to $2.31bn

COLOMBO: Sri Lanka’s central bank said currency reserves dropped to $2.31 billion by the end of February, even as the country has attempted to attract investments and restrict imports to shore up reserves for managing its debt repayments during the year.

Sri Lanka’s reserves dipped 2% from $2.36 billion as of the end of January, the central bank said in its latest external sector update.

The country is still due to repay about $4 billion in debt during the remainder of this year, including a $1 billion international sovereign bond maturing in July.