India's forex reserves rise to $692.72 billion, up $6.9 billion as of May 23

India's forex reserves grew by $6.9 billion to $692.72 billion for the week ending May 23, the Reserve Bank of India data showed on Friday.

In the previous week, the forex reserves had fallen by $4.8 billion to $685.72 billion for the week ended May 16.

The highest level of forex reserves was recorded in September 2024, reaching $704.885 billion.

The foreign currency assets, which make up a large part of the reserves, increased by $451 million to $586.16 billion during the week. These assets are affected by the value changes of currencies like the euro, pound, and yen compared to the US dollar.

Gold reserves stood at $83.58 billion, as of week ending May 23.