Forex reserves decline $23mn to $137.54bn

Foreign exchange reserves declined $23 million to $137.538 billion for the week ended July 22, 2005, according to the weekly supplement released by the RBI today.

Foreign currency assets dropped $26 million to $131.521 billion. Gold reserves and SDRs were unchanged at $4.453 billion and $4 million, respectively. The Reserve Tranche Position with the IMF moved up $3 million to $1.560 billion.