India's Forex Reserves Hit Record $725 Billion

India's foreign exchange reserves reached an all-time high of $725.727 billion in the week ended February 13, according to data released by the Reserve Bank of India (RBI). The increase was due to a surge in gold prices and other factors.

The RBI reported that the value of gold reserves increased by $4.990 billion to $128.466 billion during this period. Foreign Currency Assets (FCA), which include major global currencies like the yen, euro, and pound, increased by $3.550 billion to $573.603 billion.

The value of Special Drawing Rights (SDRs) rose by $103 million to $18.924 billion, while India's reserve position with the RBI grew by $19 million to $4.734 billion.