10
December
Indian Reserves ‘Unaffected’ After Gold Purchase, Minister Says
10 December 2009 Bloomberg.com
India’s foreign-exchange reserves remained little changed after the South Asian nation bought gold from the International Monetary Fund, a minister told lawmakers in New Delhi today.
The Reserve Bank of India said on Nov. 3 that it bought 200 metric tons of gold for about $6.7 billion, representing about 6.1 percent of the nation’s total reserves, Namo Narain Meena, junior finance minister said in a written reply to a question in parliament in New Delhi today. The central bank bought gold “as part of its reserves management operations,” he said.
http://www.bloomberg.com/apps/news?pid=20601091&sid=axRQx43.8.kM
