MVR 30.5 billion in economy by year end: MMA

Maldives Monetary Authority (MMA) has stated that by December 2016, MVR 30.5 billion was in circulation.

Statistics in the MMA Economic Review shows that amount in circulation had dipped by three percent by end of November 2016, which picked up in December. However, MMA had not revealed the increment.

MMA attributed this to a reduction in net foreign assets and an increase in net domestic assets. Year on year, the net foreign assets dipped because of reductions in foreign assets of commercial banks and MMA.

MMA also added that net domestic assets increased due to an increase in banking sector securities.