State total financial assets increase by MVR 775 million

Maldives total financial assets have increased by MVR 775 million in the month of February 2013.

Statement of Financial Position published by the Maldives central bank, Maldives Monetary Authority (MMA) states that during the month of February, total foreign currency financial assets have seen an increase of MVR 387 million and local currency financial assets have increased by MVR 387.9 million.

The statistics also show that the total financial assets, which stood at a total of MVR 10 billion at the end last January, have seen an increase of MVR 755 million, it up to MVR 11 billion during February.

The statistics reveal that the total liabilities stood at MVR 10 billion and total equity at MVR 675 million at the end of last February.

The statement’s explanatory notes states that the foreign asset revaluation reserve comprises of gains and losses arising from any change in the valuation of MMA’s assets or liabilities in gold, foreign currencies or other units of account, as a result of alterations of the external value of the Rufiyaa, or of any change in the values, parities, or exchange rates in respect of such assets in relation to the Rufiyaa.