India’s Forex Reserves Surge to $682.35 Billion

India’s money that it keeps in foreign currencies went up by about $6.1 billion last week, reaching $682.35 billion.

Most of the jump came from a $4.9 billion rise in foreign currency assets, which are the biggest part of the reserves.

Gold holdings also grew by $1.3 billion.

The Reserve Bank of India and the government added new rules for foreign‑currency deposits, called FCNR(B), that helped bring in about $32 billion.

Even though the reserves are high, the amount of Special Drawing Rights with the IMF fell a little, but overall India’s reserve cushion is still strong.