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Our Bureau

Mumbai , Oct. 6

Forex reserves decreased by $1.177 billion to touch $165.305 billion, for the week-ended September 29, mainly due to a fall in foreign currency assets and gold. In the previous week, reserves had increased by $940 million to touch $166.482 billion.

Foreign currency assets decreased by $835 million to touch $158.34 billion during the week, according to RBI's Weekly Statistical Supplement. The gold reserves dipped by $336 million to touch $6.202 billion.

"There was a revaluation of currencies during the week under consideration," said a dealer at private bank.

Non-US currencies weakened against the dollar. The euro traded between $1.2669-$1.2774. FII inflows into the domestic equity market were about $501.6 million during the week.

The reserve position in IMF also decreased by $6 million to $762 million.

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Forex reserves fall over $1.2 b

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