Budget 2025: A look at India's forex reserves at play amid rupee volatility
Nirmala Sitharaman is set to present the Union Budget for the fiscal year 2025-2026 in February 2025, marking her eighth budget under the Modi government.
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As the government prepares for this mega financial event, it's crucial to examine key economic indicators such as foreign exchange reserves, the performance of the Indian rupee, and the global economic environment, including the policies of the Trump administration in the United States.
As of January 3, 2025, India's foreign exchange reserves have declined by $5.69 billion, reaching $634.59 billion, the lowest level in nearly six months.
This decrease follows a cumulative drop of $70.3 billion from the record high of $704.89 billion observed on September 27, 2024. Furthermore, the reduction in reserves is attributed to the Reserve Bank of India's (RBI) interventions in the forex market to manage rupee volatility and changes in the valuation of foreign assets.
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