Forex reserves drop $806mn to $128.91bn

Foreign exchange reserves declined $806 million to $128.914 billion for the week ended February 4, 2005 when compared with $129.720 billion in the previous week, according to the weekly supplement released by the RBI on Saturday.

Foreign currency assets dropped $612 million to $123.107 billion. While gold reserves were down $192 million at $4.390 billion, SDRs were unchanged at $5 million. The Reserve Tranche Position with the IMF was down $2 million at $1.412 billion.