Mumbai: India’s foreign exchange (Forex) reserves surged by $5.54 billion to $692.58 billion during the week ended November 14, according to the figures released by the RBI on Friday.

The increase was driven largely by a jump in the value of the gold component of the country’s Forex kitty that shot up by as much as $5.34 billion to touch $106.86 billion during the week.

This increase mainly reflects a rise in global gold prices, as the RBI’s gold is valued according to the price movement in the global market.

Foreign Currency Assets (FCAs), which comprise the largest component of the Forex reserves, recorded an increase of $152 million to touch $562.29 billion.

The smaller components of the foreign exchange reserves, constituted by Special Drawing Rights (SDRs) rose by $56 million to

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