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INDIA'S FOREX EXCHANGE RESERVES TUMBLE BY US $1.5 BLN.

AsiaPulse News

| August 02, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MUMBAI, Aug 2 Asia Pulse - Reversing the trend of net inflows seen over the past three weeks, India's foreign exchange reserves dropped by a whopping US $1.53 billion to US .57 billion for the week ended July 23.

Revaluation of the US dollar against other international currencies and low inflows led to the sharp drop in reserves, analysts said.

The foreign exchange reserves stood at US $1,19,575 million as against the previous week's US $1,21,106 million.

The foreign currency assets were down by US $1,522 million at US $1,14,215 million, according to the ...

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Source: HighBeam Research, INDIA'S FOREX EXCHANGE RESERVES TUMBLE BY US $1.5 BLN.

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