India's forex reserves dip to $194.41 bn

Source: PTI

March 16, 2007 18:40 IST

After a dream run of almost one month, India's forex reserves dipped by $ 224 million to stand at $194.410 billion during the week ended March 9 as against $194.634 billion during the week ended March 2.

The reserves were up by $1.51 billion during the week ended March 2 compared to the preceding seven-day period.

The foreign currency assets also decreased by $224 million to $187.058 billion during the seven-day period ended March 9,

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according to figures released by Reserve Bank of India.

Foreign currency assets in dollars include the effect of revaluation of non-US currencies such as Euro, Sterling, Yen held in reserves.

Reserve position in the IMF, SDRs and Gold reserves remained unchanged at $ 467 million, $2 million and $6.683 billion respectively.