Forex Reserves Dip $1.522 Bn

Mumbai, July 31 | Updated: Aug 1 2004, 07:12am hrs
The countrys foreign exchange reserves declined sharply by $1.522 billion during the week ended July 23 to $119.6 billion. The reserves stood at $121.1 billion in the preceding week.

The fall was solely on account of the foreign currency assets declining by $1.522 billion to $114.215 billion in the reporting week, according to RBIs latest weekly statistical supplement released on Saturday.

The reserves fell due to a change in valuation of foreign currency assets expressed in dollar terms.