COLOMBO:Sri Lanka's trade deficit rose 49.7 percent in January from the same month last year to $965.5 million, the central bank said on Monday.

Imports rose 20.1 percent in January to $1.88 billion, while exports fell a marginal 0.6 percent to $917.7 million.

The island nation's foreign exchange reserves, which the central bank has been spending to defend the rupee currency , fell to $5.81 billion from $5.96 billion a month ago, adequate to finance 3.4 months of imports.