RBI says bought 200 tn gold from IMF Oct 19-30

Watch CNBC-TV18 live only on MYTV >>

NewsWire18, Tuesday, Nov 3 . --Says gold purchases part of FX reserves management ops . MUMBAI - The Reserve Bank of India bought 200 tn of gold between Oct 19 and Oct 30 from the International Monetary Fund under a limited gold sales programme, the central bank said in a release today. "This was done as part of the Reserve Bank's foreign exchange reserves management operations," the release said. On Sep 19, the IMF had decided to sell 403.3 tn of gold to increase its resources for lending to low-income countries. The initial offer to sell would be directly to central banks and other official holders. According to the IMF, the proceeds of the central bank's purchases were equivalent to $6.7 bln or 4.2 bln special drawing rights. End . Reported by Aparna Iyer Edited by Rajesh P. . NewsWire18 Tel +91 (22) 6637-8700 Send comments to feedback@newswire18.com . Copyright NewsWire18 Pvt. Ltd. 2007. All rights reserved. Category : E/ECO E/IND E/STA G/CEN G/REG G/RBI R/ASI R/IN R/SHA S/TOP