India's forex reserves surge to $707 billion, up $14.1 billion in a week

India's foreign exchange reserves rose by $14.136 billion to reach $707.002 billion for the week ending August 7. The increase was primarily driven by a $9.946 billion jump in foreign currency assets. Gold reserves also contributed, rising by $3.995 billion during the same period. The gains follow deliberate efforts by the Indian government and the Reserve Bank of India to attract greater foreign exchange inflows.