India's Forex reserves continue to surge

India's foreign exchange reserves rose by $9.905 billion to reach $716.907 billion for the week ending August 14, as reported by the Reserve Bank of India (RBI). Foreign currency assets, a significant part of the reserves, increased by $7.225 billion to $581.851 billion. In the previous week ending August 7, reserves had grown by $14.136 billion. Gold reserves also rose by $2.679 billion to $111.417 billion, while special drawing rights dropped by $5 million to $18.74 billion.