According to the Economic survey 2024-25, what is the value of India’s foreign exchange reserves, as of the end of December 2024?​

Correct option is D

The correct answer is: (d) $640.3 billion

Explanation:

• As per the Economic Survey 2024–25, India’s foreign exchange reserves stood at USD 640.3 billion at the end of December 2024, providing coverage of approximately 10.9 months of imports and around 90% of external debt .

• The reserves peaked at USD 704.9 billion in September 2024, before moderating to USD 634.6 billion by early January 2025 .

• Robust services trade and record remittances helped support reserve accumulation in FY 2024–25 .

• Forex reserves are used to:

  • Defend the rupee

  • Fund external obligations

  • Ensure import cover

• With a $640.3 billion reserve, India ranks among the top four holders of foreign exchange globally .