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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Indian reserves ‘unaffected’ after gold purchase, Minister says

Posted on 09 December 2009

From Bloomberg: 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……………………………..Full Article: Source

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