Forex reserves down at $279.91-bn

India's foreign exchange reserves fell to $279.91-billion for the week ended Sept 25.

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 on Friday.

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.

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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.

Adani group chief Gautam Adani. The regulator made it clear that none of the charges in the show-cause notice could be proved. It also confirmed there was no violation of the Sebi Act concerning fraudulent or unfair trade practices.

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