Los Angeles: Democratic presidential hopeful Barack Obama set a new all-time record when he raised a stunning 32 million dollars in campaign funds in January, his campaign announced today.

"It's been a remarkably consistent month," said campaign manager David Plouffe, saying the donations had come from some 650,000 people. "Our strongest day was the day after New Hampshire, we took a lot of encouragement from that."

In a race which is shaping up to be the most expensive in history, the young Illinois senator bidding to be the country s first black president, raised 103 million dollars in 2007.
Obama had previously obliterated party fund raising records by raking in at least 32.5 million dollars in the second quarter of 2007,out pacing his top rival Hillary Clinton.

"Obviously these resources are critical, we ve been able to advertise in all February 5 states," Plouffe said, referring to next week's Super Tuesday when some 22 states will vote for their candidates.

"Our ability to raise this level of money is going to be crucial to transacting a very challenging calendar." Obama and Clinton are locked in a bitter duel as they both chase the party's nomination to contest the November presidential elections.

The cost of the last presidential campaign in 2004, considered a peak for its time, was 693 million dollars. Estimates of this year s total outlay have tended to come in at around one billion dollars, and Fortune magazine recently upped its overall cost projection to three billion dollars.

Source : PTI