National Budget 2025: US$705 Million Surge in Reserves Projected as Usable Reserves Decline

State reserves are projected to increase by US$705 million in 2025 due to new foreign exchange regulations by the Maldives Monetary Authority (MMA). Official reserves stood at US$615 million at the end of last month, expected to reach US$654 million by year-end, up from US$590 million at the end of last year. The MMA entered a US$400 million currency swap with the Reserve Bank of India (RBI), investing US$120 million with Maldivian banks. However, usable reserves fell by US$17 million to US$32 million, the steepest decline in three years, attributed to increased dollar expenditure.

State reserves are projected to increase by US$705 million in 2025 due to new foreign exchange regulations by the Maldives Monetary Authority (MMA). Official reserves stood at US$615 million at the end of last month, expected to reach US$654 million by year-end, up from US$590 million at the end of last year. The MMA entered a US$400 million currency swap with the Reserve Bank of India (RBI), investing US$120 million with Maldivian banks. However, usable reserves fell by US$17 million to US$32 million, the steepest decline in three years, attributed to increased dollar expenditure.

State reserves are projected to increase by US$705 million in 2025 due to new foreign exchange regulations by the Maldives Monetary Authority (MMA). Official reserves stood at US$615 million at the end of last month, expected to reach US$654 million by year-end, up from US$590 million at the end of last year. The MMA entered a US$400 million currency swap with the Reserve Bank of India (RBI), investing US$120 million with Maldivian banks. However, usable reserves fell by US$17 million to US$32 million, the steepest decline in three years, attributed to increased dollar expenditure.

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