Forex reserves down at USD 279.91 billion

MUMBAI: India's foreign exchange reserves fell further to USD 279.91-billion for the week ended September 25 as compared to USD 280.77-billion in the previous week.

The foreign currency assets (FCA) declined to USD 263.498-billion, falling by USD 855-million, from USD 264.353-billion the week before, Reserve Bank said in its weekly report today.

Foreign currency assets expressed in US dollar 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, the gold reserves stood unchanged at USD 9.828-billion while Special Drawing Rights (SDRs) dropped marginally to USD 5.220-billion from USD 5.224-billion the week before, RBI said.

The country's reserves position in the International Monetary Fund stood at USD 1.364-billion during the period, RBI said.