India's Forex Reserves Jump $1.033 Billion to $687.26 Billion, Gold Holdings Up

• India's forex reserves increased by $1.033 billion to $687.260 billion in the week ending December 5.
• The rise was primarily due to a $1.188 billion jump in gold reserves, which now total $106.984 billion.
• The country's forex kitty remains close to its all-time high of $704.89 billion.
• Foreign currency assets (FCA) decreased by $151 million, settling at $556.880 billion.
• The RBI stated that current reserves are sufficient to cover over 11 months of merchandise imports.

Why It Matters: Rising forex reserves boost India's economic stability and currency management.