RBI: Gold Surge Boosts India's Forex Reserves to $693.32 Billion

• India's foreign exchange reserves rose by $4.38 billion to $693.32 billion in the week ending December 19.
• Over half of this increase, $2.62 billion, came from gold reserves, which reached $110.36 billion.
• Gold reserves increased for the third consecutive week, unlike foreign currency assets.
• In rupee terms, gold reserves grew by 120 billion rupees to 9.86 trillion rupees.
• Despite dollar gains, total forex and foreign currency assets decreased in rupee terms.

Why It Matters: Gold holdings are significantly driving India's foreign exchange reserves to new highs.