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India's forex reserves fall by $135 mn

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June 18, 2005 13:56 IST

Impacted by the revaluation of international currencies, India's foreign exchange reserves fell by $135 million for the week ending June 11, 2005.

The forex reserves now stand at $1,38,526 million during the week under review, according to the Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.

India's foreign currency assets also declined by $163 million for the week under review to $ 1,32,567 million, the RBI said.

The forex reserves dipped by $135 million, compared to $ 1.16 billion a week earlier. Analysts have blamed the drop in reserves on the revaluation of international currencies, mainly the US dollar.

Gold reserves and special drawing rights were static at $4,376 million and $ 4 million respectively. The country's reserve tranche position rose by $28 million to $1,579 million, it said.

Loans and advances to the state government declined by Rs 183 crore (Rs 1.83 billion) to nil balance same as that of the central government.

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