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Forex reserves fall by $14 mn
August 21, 2004 15:10 IST
India's foreign exchange reserves fell by $14 million during the week ended August 13 after witnessing a rise of $1.01 billion a week earlier.
The dip in the foreign exchange reserves by $14 million to $119.32 billion was due to revaluation vis-a-vis the US dollar.
The foreign currency assets during the period under review also fell by $18 million to $113.90 billion, Reserve Bank of India said in its weekly statistical supplement released in Mumbai on Saturday.
Gold reserves remained static at $4.12 billion while the special drawing rights dropped by $1 million, the central bank said.