India’s forex reserves were up by $4.36 billion to $693.32 billion for the week ending December 19, according to data released by the Reserve Bank of India (RBI) on Friday.The Reserve Bank of India routinely monitors developments in the foreign exchange market and undertakes interventions when necessary to preserve orderly trading conditions. Such interventions aim to moderate undue volatility in the rupee’s exchange rate and are not guided by any fixed exchange rate target or band.