New Delhi: India's foreign exchange reserves surged by USD 9.699 billion, reaching a new record of USD 666.854 billion for the week ending July 12, according to data released by the Reserve Bank of India (RBI) on Friday.

In the previous week, reserves had increased by USD 5.158 billion, climbing to USD 657.155 billion. This figure had already surpassed the previous high of USD 655.817 billion recorded for the week ending June 7. For the week ending July 12, foreign currency assets, which constitute a significant portion of the reserves, rose by USD 8.361 billion to reach USD 585.47 billion. These assets include the effects of changes in the value of non-US currencies such as the euro, pound, and yen.

Gold reserves also saw a notable increase, rising by USD 1.231 billion to USD 58.663 billion during the same period. The Special Drawing Rights (SDRs) increased by USD 76 million to USD 18.111 billion, and India's reserve position with the International Monetary Fund (IMF) grew by USD 32 million to USD 4.609 billion, according to the RBI's data.

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