NEW DELHI — India’s foreign exchange reserves surged to a record high of $689.24 billion in the week ending September 6, marked by a substantial increase in foreign currency assets and gold reserves.

According to Namibia Press Agency, the Reserve Bank of India reported a significant boost in the reserves, with a $5.25 billion rise over the week. This follows a $2.3 billion increase in the prior week. The largest component of the reserves, foreign currency assets, climbed $5.11 billion, reaching $604.14 billion.

Additionally, the country’s gold reserves experienced a growth, increasing by $129 million to stand at $61.99 billion.

The continuous growth in India’s forex reserves provides a robust buffer for the national economy, enhancing its ability to manage external and financial challenges.