India's Forex Reserves Soar by $4.36 Billion to $693 Billion

• India's forex reserves surged by USD 4.368 billion, reaching a total of USD 693.318 billion for the week ending December 19.
• This marks a significant increase from the previous week's rise of USD 1.689 billion, which brought the total to USD 688.949 billion.
• Foreign currency assets, a major component, grew by USD 1.641 billion to USD 559.428 billion.
• Gold reserves saw a substantial jump of USD 2.623 billion, reaching USD 110.365 billion.
• Special Drawing Rights (SDRs) and India's reserve position with the IMF also increased, contributing to the overall rise.

Why It Matters: India's forex reserves hit $693 billion, driven by increases in foreign currency assets and gold.