Forex reserves decline $1.45bn to $137.44bn

Foreign exchange reserves declined $1.447 billion to $137.443 billion for the week ended July 1, 2005 when compared with the previous week, according to the weekly supplement released by the RBI on Saturday.

Foreign currency assets were down $1.516 billion to $131.426 billion. While gold reserves increased $77 million to $4.453 billion, SDRs were unchanged at $4 million.

The Reserve Tranche Position with the IMF dropped $8 million to $1.560 billion.