India’s foreign exchange reserves recorded a strong rise for the week ended 14 November, increasing by USD 5.543 billion to reach USD 692.576 billion, the Reserve Bank of India (RBI) said on Friday. The sharp recovery comes after a decline of USD 2.699 billion in the previous reporting week, when reserves had slipped to USD 687.034 billion.The surge in the country’s reserves this week was driven largely by a steep jump in the value of gold holdings.Gold reserves rose by USD 5.327 billion, taking the total to USD 106.857 billion.This increase mainly reflects a rise in global gold prices, as the RBI’s gold is valued according to international market movements.Foreign Currency Assets Record a Mild IncreaseForeign currency assets (FCAs), the largest component of India’s reserves, saw a modest

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