Forex reserves decline $544mn to $137bn

Foreign exchange reserves declined $544 million to $136.899 billion for the week ended July 8, 2005, according to the weekly supplement released by the RBI today.

Foreign currency assets declined $529 million to $130.897 billion. Gold reserves and SDRs were unchanged at $4.453 billion and $4 million, respectively. The Reserve Tranche Position with the IMF was down $15 million at $1.545 billion.