India's Forex Reserves Soar: Gold Holdings Jump $2.62 Billion in a Week

• India's forex reserves surged by $4.36 billion to $693.31 billion in the week ending December 19.
• Gold holdings were the primary driver, increasing by $2.62 billion to $110.36 billion.
• Foreign Currency Assets (FCA) also rose by $1.641 billion, partly due to non-US currency valuation changes.
• Special Drawing Rights (SDR) and IMF reserve positions saw slight increases.
• RBI states reserves cover over 11 months of imports, indicating strong economic stability.

Why It Matters: India's forex reserves hit $693.31 billion, driven by a $2.62 billion gold surge, bolstering economic stability.