India's foreign exchange reserves fell by $23 million for the week ended July 22, 2005. The forex reserves stood at $137.538 billion, a fall of $23 million, during the week under review, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
The foreign currency assets also dropped by $26 million to $131.521 billion for the reporting week.
The fall in the inflows is mainly due to revaluation of international currencies, including the dollar, analysts said. Gold reserves and Special Drawing Rights (SDRs) remained static at $4.453 billion and $4 million, respectively.
The country's reserve tranche position increased by $3 million to $1.560 billion, it said.
While loans to the state government decreased by Rs 3,585 crore (Rs 35.85 billion) to Rs 459 crore (Rs 4.59 billion), loans to the central government showed nil balance, it added.