Forex reserves decline $423mn to $141.48bn

Foreign exchange reserves declined $423 million to $141.475 billion for the week ended May 6 when compared with $141.898 billion in the previous week, according to the weekly supplement released by the RBI today.

Foreign currency assets declined to $135.584 billion from $135.950 billion, and gold reserves dropped to $4.443 billion. SDRs and the Reserve Tranche Position with the IMF were steady at $ 5million and $1.443 billion, respectively.