The Maldives Monetary Authority (MMA) reported USD 821 million in state reserves as of December 2024, with USD 63 million deemed as usable reserves. A significant portion of the reserves, USD 673.2 million, is held in official assets, while an additional USD 148.6 million is invested in local banks and securities. To stabilise reserves, the MMA secured USD 400 million through a currency swap agreement with India and will soon implement a policy directing 60 per cent of income from foreign-funded businesses to local banks.