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India’s forex reserves rebound, rise $5.17 billion to $696.66 billion

India’s foreign exchange reserves rose by $5.17 billion to reach $696.66 billion for the week ended June 6, according to data released by the Reserve Bank of India (RBI) on Friday. This marks a rebound after a $1.24 billion decline in the previous week.The increase was primarily driven by a $3.47 billion rise in foreign currency assets, which stood at $587.69 billion. Gold reserves also contributed, increasing by $1.58 billion to $85.88 billion during the week. Special Drawing Rights (SDRs) rose by $102 million to $18.67 billion, while India’s reserve...