New Delhi, May 9 — India’s forex reserves surged by USD 4.553 billion to USD 690.617 billion for the week ended May 9, driven primarily by a sharp increase in gold assets, according to the Reserve Bank of India (RBI). In the previous week, reserves had fallen by USD 2.065 billion to USD 686.064 billion. The all-time high was recorded at USD 704.885 billion in September 2024. Breakdown of Reserve Components: Foreign Currency Assets (FCA) rose by USD 196 million to USD 581.373 billion. These figures account for the impact of currency movements in non-USD assets like the euro, pound, and yen. Gold reserves jumped by USD 4.518 billion to USD 86.337 billion. Special Drawing Rights (SDRs) fell by USD 26 million to USD 18.532 billion. India’s reserve position with the IMF declined by USD 134 million to USD 4.374 billion.
