By The Pulseline News Desk
Sri Lanka’s gross official reserves increased to US$7.09 billion at the end of October 2026, supported by continued foreign exchange purchases by the Central Bank of Sri Lanka (CBSL) and steady inflows from overseas workers.
According to the latest Weekly Economic Indicators report released by CBSL on November 6, gross official reserves were provisionally estimated at US$7,086 million as of October 31.
The reserve figure includes proceeds from the swap arrangement with the People’s Bank of China.
CBSL has also reported that it had made net foreign exchange purchases of US$191 million from the domestic foreign exchange market during October, reflecting continued efforts to strengthen the country’s external reserves.
However, despite the improvement in the reserve position, the Sri Lankan rupee has recorded a year-to-date depreciation of 6.7% against the US dollar as of November 6.
Meanwhile, workers’ remittances have continued to provide an important source of foreign exchange, reaching US$735.6 million in October 2026. The October inflow represented a marginal increase from the US$734.4 million recorded in September and was US$23.6 million higher than the US$712 million received during the corresponding month last year.
This reflects a year-on-year growth of approximately 3.3% in workers’ remittances.
Remittance inflows remain a key component of Sri Lanka’s external sector, helping support foreign exchange availability and the country’s balance of payments position.
The latest figures indicate that both reserve accumulation and overseas worker remittances continue to contribute to the country’s external financial position, although the depreciation of the rupee highlights the continuing pressures in the foreign exchange market.
Leave a comment