India’s forex reserves rise by $4.55 billion to $690.61 billion this week on surge in gold holdings

India’s foreign exchange reserves experienced a notable increase of $4.553 billion, reaching $690.617 billion for the week ending May 9, driven by a substantial surge in gold assets. Foreign currency assets saw a slight rise, while gold reserves significantly boosted the overall increase. However, Special Drawing Rights and the reserve position with the IMF witnessed declines during the reporting week.