India's forex reserves drop to $165.094 bn

Foreign exchange reserves declined $701 million to $165.094 billion for the week ended August 11, 2006 when compared with the previous week, according to the weekly supplement released by the Reserve Bank of India on Friday.

Foreign currency assets dropped $696 million to $157.769 billion. While gold reserves were unchanged at $6.557 billion, SDRs were down $6 million to $1 million.

The Reserve Tranche Position with the IMF was up marginally ($1 million) to $767 million.