Forex reserves up at $280.340-billion

India's foreign exchange reserves rose to $280.340 billion for the week ended October 2, by $430 million, compared to $279.910 billion in the previous week.

India's foreign exchange reserves rose to $280.340 billion for the week ended October 2, by $430 million, compared to $279.910 billion in the previous week.

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Foreign currency assets, during the period, fell to $263.465 billion from $263.498 billion a week ago, Reserve Bank said in its weekly report on Friday.

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, the gold reserves jumped to $10.316 billion, compared to $9.828-billion in the previous week.

The Special Drawing Rights (SDRs) dropped marginally to $5.200-billion from $5.220-billion, the RBI said.

The country's reserves position in the international monetary fund stood at $1.359 billion during the period, RBI said.