India's forex reserves rise $6.992 billion to $692.721 billion

India's foreign exchange reserves increased by $6.992 billion, reaching $692.721 billion for the week ended May 23, according to the RBI's data released on Friday.

The foreign currency assets, which constitute a significant portion of the reserves, rose by $4.516 million to $586.167 billion during the week ended May 23.

The country's gold holdings saw an uptick of $2.366 billion, reaching $83.582 billion for the week, according to the RBI.

The SDRs (Special Drawing Rights) witnessed an increase of $81 million, totalling $18.571 billion, as reported by the central bank.

India's position with the International Monetary Fund also strengthened by $30 million, standing at $4.401 billion during the reporting week.

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