India's Forex Reserves Surpass $676 Billion Amid Global Economic Uncertainty

India's foreign exchange reserves have reached a new high of $676.237 billion, up from $675.157 billion in the previous week.

The Reserve Bank of India (RBI) reported that the country's foreign currency assets increased by $4.549 billion to $551.057 billion during the latest reporting week.

However, gold reserves saw a decline of $3.48 billion to $101.749 billion over the same period.

The RBI noted that the value of non-dollar currencies such as the euro, pound sterling and Japanese yen held in India's reserve portfolio also contributed to the rise in foreign currency assets.