Mumbai: Forex reserves of the country decreased by $666 million to $176.585 billion during the week ended January 5 as against $177.251 billion during the week ended December 29, 2006, according to figures released by the Reserve Bank of India (RBI).

The reserves were up $1.018 billion during the week ended December 29, compared to the week ago period.

The reserve position in the IMF went down by one million to $545 million. Gold reserves and SDRs remained static at $6.517 billion and $1 million respectively.

The foreign currency assets include the effect of revaluation of non-US currencies such as euro, sterling, yen held in reserves.

Foreign currency assets were down $665 million at $169.522 billion during the period ended January 5, 2006 also, RBI said in a release on its website.