Forex kitty: India’s reserves rise $1.68 billion to $688.94 billion; gold and FX assets up

India’s foreign exchange reserves rose by $1.689 billion to $688.949 billion in the week ended December 12, data released by the Reserve Bank of India showed on Friday, according to PTI.In the previous reporting week, the country’s overall forex reserves had increased by $1.033 billion to $687.26 billion.Foreign currency assets (FCAs), the largest component of the reserves, rose by $906 million to $557.787 billion during the reporting week, according to RBI data. Expressed in dollar terms, FCAs include the impact of appreciation or depreciation of non-US currencies such as the euro, pound sterling and yen held in the reserves.Gold reserves also recorded a notable increase, rising by $758 million to $107.741 billion during the week, the central bank said.Special Drawing Rights (SDRs) with the International Monetary Fund increased by $14 million to $18.745 billion, RBI data showed.India’s reserve position with the IMF also improved, rising by $11 million to $4.686 billion in the reporting week.