Forex reserves drop $2.07bn to $129.11bn

Foreign exchange reserves declined $2.066 billion to $129.112 billion for the week ended January 7, 2005, according to the weekly supplement released by the RBI on Saturday.

Foreign currency assets declined $2.042 billion to $123.122 billion. Gold reserves and SDRs were unchanged at $4.582 billion and $5 million, respectively. The Reserve Tranche Position with the IMD dropped $24 million to $1.403 billion.