India's forex reserves falls by $1B

India's forex reserves falls by $1B

By agencies   |   Monday, 26 September 2005, 07:00 Hrs
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NEW DELHI: India's foreign exchange reserves fell $1.05 billion to $144.2 billion in the week to September 16, the Reserve Bank of India has said.

Foreign-currency assets dropped $1.05 billion to $138.2 billion, which include overseas currencies, gold and special drawing rights with the International Monetary Fund.

Gold reserves remained unchanged at $4.5 billion and special drawing rights were also unchanged at $4 million, it said. The nation's loans to the International Monetary Fund fell by $8 million to $1.44 billion, RBI said.

India's foreign-exchange reserves increased by $25.86 billion over the past year and by $2.7 billion since April 1, the start of the financial year, the bank said.

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