India’s foreign exchange reserves rise $19.4 billion in April-December 2025

Mumbai: The country’s foreign exchange reserves in nominal terms, including valuation effects, rose $19.4 billion during April-December 2025, against a depletion of $10.7 billion in April-December 2024, according to the Reserve Bank data.

On a balance of payments basis, excluding valuation effects, foreign exchange reserves decreased $30.8 billion during April-December 2025, as compared to depletion of $13.8 billion during April-December 2024.

The Reserve Bank of India (RBI) on Monday released Sources of Variation in Foreign Exchange Reserves in India during April-December 2025.

The valuation gain, primarily reflecting higher price of gold, depreciation of US dollar against major currencies and lower bond yields, increased to $50.2 billion during April-December 2025 from $3.1 billion during April-December 2024.

The current account balance recorded a deficit of $30.2 billion during April-December 2025, as against a deficit of $36.7 billion during April-December 2024.

During April-December 2025, there was a capital account deficit of $0.6 billion, compared to a surplus of $22.9 billion in a similar period last year, the data showed.