Usable forex reserves slide to $50 m from $103 m

Continued from Page 1 At this stage usable foreign exchange reserves were amounting to $ 330 million ( 1.9- 1.57 billion =0.33 billion). In April, usable foreign exchange reserve was $ 103 million but after making an emergency payment of $53 million it has come down to $50 million, Ministry provisional data shows.

According to Central Bank sources, foreign exchange reserves are made up of US dollars, British sterling pound (GPB), the euro (EUR), the Chinese yuan ( CNY) and the Japanese yen (JPY).

Fo reign exchang e reserves are assets denominated in a foreign currency that are held by a Central Bank and these may include foreign currencies, bonds, treasury bills, and other government securities.