The Central Bank said foreign reserves rose to 6.8 billion US dollars (756 billion rupees) by October 25, which is more than twice its monetary base of 350 billion rupees.

The reserves were equal to 6.4 months of average imports during the past 12 months.

"Considering the Central Bank’s aim of maintaining a foreign exchange reserve level equivalent to around 5 months of imports, the quantum of the current reserve is substantially over the planned level," the Bank said.

The average imports were about 1,070 million dollars a month in the past 12 months.

The bank's gold stock is also appreciating in value. Last year it bought ten tonnes of gold from the IMF for 375 million dollars which is up about 20 percent in value as the US dollar weakened against real commodities.