India's Forex Reserves Soar to $693 Billion, Up $4.36 Billion

• India's foreign exchange reserves increased by $4.368 billion to $693.318 billion for the week ending December 19.
• This follows a $1.689 billion rise in the previous week, reaching $688.949 billion.
• Foreign Currency Assets (FCA), a major component, grew by $1.641 billion to $559.428 billion.
• Gold reserves saw a significant jump of $2.623 billion, reaching $110.365 billion.
• Special Drawing Rights and India’s reserve position with the IMF also increased.

Why It Matters: India's forex reserves reached a new high of $693.318 billion, driven by increases in FCA and gold.