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Forex reserves fall to $280.770 bn

India"s foreign exchange reserves fell to $280.770 billion for the week ended September 18 from $280.978 billion in the previous week. - Need to build up forex reserves as buffer against crises: Thorat - Forex reserves dip $214 million - Forex reserves down at $271.239 bn - IMF Board approves $250 bn general SDR allocations - Forex reserves up by $1.524 bn to $267.711 bn - Forex reserves up by $2.27 bn to $266.19 bn The foreign currency assets (FCA) fell by $209 million during the week to $264.353 billion against $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 $9.828 billion while the Special Drawing Rights increased marginally to $5.224 billion against $5.223 billion in the previous week, the central bank said. The country"s reserves position in the international monetary fund stood unchanged at $1.365 billion during the period, RBI said.

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