Gross reserves top $ 7.28 b in February

Tuesday, 10 March 2026 00:24 - - {{hitsCtrl.values.hits}}

Reserve outflows estimated at $ 2.1 b and $ 3.9 b short position in forwards and futures
Reserve buffer at $ 600 m

Gross official reserves topped $ 7.28 billion as of end-February, up from $ 6.8 billion a month earlier, latest Central Bank of Sri Lanka (CBSL) data showed, which includes a swap with the People’s Bank of China for about $ 1.4 billion.

Official reserves of $ 7.28 billion, a six-year high, provide roughly four to five months of import cover, a significant recovery from the crisis period, though the CBSL’s reserve template also shows a $ 3.9 billion short position in foreign exchange swaps and forwards that analysts monitor as a potential future drain on reserves.

Foreign currency reserves amounted to $ 7.06 billion, up from $ 6.69 billion a month ago.

Gold holdings amounted to $ 200 million, up from $ 109 million, with reserves held with the International Monetary Fund (IMF) unchanged at $ 4 million, and Special Drawing Rights at $ 23 million, down from $ 32 million a month earlier.

The CBSL estimates reserve outflows at $ 2.13 billion over the next 12 months and include outflows related to restructuring terms agreed with International Sovereign Bond (ISB) holders in December 2024.

It estimates a $ 3.9 billion short position in forwards and futures in foreign currencies against the domestic currency, including the forward leg of currency swaps, a major share of which will be rolled over, the CBSL said.