Forex reserves fall to USD 280.770 bn

Forex reserves fall to USD 280.770 bn Mumbai: India's foreign exchange reserves fell to USD 280.770 billion for the week ended September 18 from USD 280.978 billion in the previous week.

The foreign currency assets (FCA) fell by USD 209 million during the week to USD 264.353 billion against USD 264.562 billion a week-ago, RBI said in its weekly report.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, the central bank said.

During the week, gold reserves stood unchanged at USD 9.828 billion while the Special Drawing Rights increased marginally to USD 5.224 billion against USD 5.223 billion in the previous week, the central bank said.

The country's reserves position in the international monetary fund stood unchanged at USD 1.365 billion during the period, RBI said.

Bureau Report