India's forex reserves decline to $119.67 billion

Monday, 14 June 2004, 19:30 IST
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MUMBAI: India's foreign exchange reserves fell to $119.67 billion for the week ended June 4 from $119.82 billion, said the Reserve Bank of India (RBI) Saturday. According to the central bank's weekly statistical supplement, while the foreign currency assets grew by $77 million to $114.40 billion, gold reserves saw a fall of $217 million to $3.97 billion. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling, and Yen held in reserves, said the statement. India's reserve tranche position with the International Monetary Fund also witnessed a fall of $2 million to $1.3 billion, it said.
Source: IANS
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