India's Forex Reserves Increase to USD 687.19 Billion with Gold Holdings Rising

India's foreign exchange reserves rose by USD 392 million to USD 687.19 billion for the week ended January 9, according to the Reserve Bank of India. While foreign currency assets declined by USD 1.124 billion to USD 550.866 billion, gold reserves increased by USD 1.568 billion to USD 112.83 billion. Special Drawing Rights and the reserve position with the IMF saw slight decreases. The RBI noted that reserves remain sufficient to cover over 11 months of imports, reflecting resilience in India's external sector.