N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT 

INVESTMENT COMPANY

Investment Company Act file number                                                       811-6604

Dreyfus BASIC Money Market Fund, Inc. 

(Exact name of Registrant as specified in charter) 

c/o The Dreyfus Corporation
200 Park Avenue
New York, New York 10166
(Address of principal executive offices)	(Zip code)

Michael A. Rosenberg, Esq.

200 Park Avenue

New York, New York 10166

(Name and address of agent for service) 

Registrant's telephone number, including area code:		(212) 922-6000
Date of fiscal year end:	02/28
Date of reporting period:	11/30/08

FORM N-Q

Item 1. Schedule of Investments.

STATEMENT OF INVESTMENTS
Dreyfus Basic Money Market Fund, Inc.
November 30, 2008 (Unaudited)
Negotiable Bank Certificates of Deposit--33.0%	Principal Amount ($)	Value ($)
Allied Irish Banks (Yankee)
2.90%, 12/5/08	50,000,000	50,000,110
Banca Intesa SpA (Yankee)
3.12%, 2/27/09	50,000,000	50,000,000
Banco Santander Puerto Rico (Yankee)
3.00%, 12/10/08	40,000,000	40,000,000
Barclays Bank PLC (Yankee)
2.55% - 3.75%, 12/29/08 - 1/22/09	35,000,000	35,000,000
DZ Bank AG (Yankee)
3.20%, 12/24/08	25,000,000	25,000,157
Fortis Bank (Yankee)
2.50% - 3.17%, 12/23/08 - 3/9/09	50,000,000	50,000,000
Landesbank Baden-Wurttemberg (Yankee)
3.15%, 2/11/09	50,000,000	50,000,000
Natixis (Yankee)
3.15%, 3/12/09	50,000,000	50,000,000
UBS AG (Yankee)
3.20%, 3/16/09	25,000,000	25,000,000
Total Negotiable Bank Certificates of Deposit
(cost $375,000,267)		375,000,267
Commercial Paper--54.9%
Atlantic Asset Securitization LLC
1.56% - 1.76%, 2/5/09 - 2/18/09	43,000,000 a	42,857,215
Atlantis One Funding Corp.
1.51% - 2.01%, 2/3/09 - 2/19/09	50,000,000 a	49,827,778
Bank of America Corp.
2.01%, 2/12/09	9,638,000	9,598,913
BNP Paribas Finance Inc.
0.69%, 12/1/08	30,000,000	30,000,000
CAFCO LLC
3.02%, 1/20/09 - 1/21/09	49,300,000 a	49,093,167

Citigroup Funding Inc.
3.46%, 12/2/08	50,000,000	49,995,208
Gemini Securitization Corp., LLC
3.22%, 12/22/08	40,000,000 a	39,925,333
General Electric Capital Corp.
2.52%, 2/3/09	50,000,000 b	49,777,778
Hannover Funding Company LLC
2.25%, 12/8/08	50,000,000 a	49,978,125
LMA Americas LLC
2.06%, 2/19/09	50,000,000 a	49,772,222
Market Street Funding LLC
2.51%, 1/15/09	50,000,000 a	49,843,750
Mont Blanc Capital Corp.
3.12%, 1/30/09	50,000,000 a	49,741,667
Prudential Funding LLC
0.60%, 12/1/08	40,000,000	40,000,000
Surrey Funding Corp.
2.77%, 2/5/09	15,000,000 a	14,924,375
Working Capital Management Co. L.P.
2.77%, 2/6/09	50,000,000 a	49,744,097
Total Commercial Paper
(cost $625,079,628)		625,079,628
Corporate Notes--4.3%
Lehman Brothers Holdings Inc.
0.00%, 3/27/09	45,000,000 c,d	4,275,000
Wells Fargo & Co.
2.91%, 12/2/08	45,000,000 b	45,000,000
Total Corporate Notes
(cost $90,000,000)		49,275,000
Time Deposit--1.9%
RBS Citizens NA (Grand Cayman)
0.20%, 12/1/08
(cost $21,000,000)	21,000,000	21,000,000
Repurchase Agreement--2.6%
Deutsche Bank Securities
0.25%, dated 11/28/08, due 12/1/08 in the amount of
$30,000,625 (fully collateralized by $2,974,000

Federal Agricultural Mortgage Corp., 0%, due
12/23/08, value $2,973,703 and $26,160,000 Federal
Home Loan Bank, 3.625%-4.50%, due 9/16/11-2/18/15,
value $27,626,479)
(cost $30,000,000)	30,000,000	30,000,000
Short-Term Investment--3.1%
Capital Support Agreement
(cost $0)	0 d	35,530,517
Total Investments (cost $1,141,079,895)	99.8%	1,135,885,412
Cash and Receivables (Net)	.2%	2,058,708
Net Assets	100.0%	1,137,944,120

a	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2008, these securities amounted to $445,707,729 or 39.2% of net assets.
b	Variable rate security--interest rate subject to periodic change.
c	Issuer filed for bankruptcy.
d	The Bank of New York Mellon Corporation ("BNY Mellon") has entered into a Capital Support Agreement with the fund, which provides that BNY Mellon, at no cost to the fund, will contribute capital to the fund up to 100% of the amortized cost of the security to the extent that the fund maintains a net asset value of $.995 on the sale, final liquidation or other final payment of the security.

At November 30, 2008, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

Various inputs are used in determining the value of the fund's investments relating to Financial Accounting Standard No. 157 (FAS 157), Fair Value Measurements.

These inputs are summarized in the three broad levels listed below. Level 1 - quoted prices in active markets for identical securities.

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) Level 3 - significant unobservable inputs (including fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, money market securities are valued using amortized cost, in accordance with rules under the Investment Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.

The following is a summary of the inputs used as of November 30, 2008 in valuing the fund's investments carried at fair value:

Valuation Inputs	Investments in Securities ($)
Level 1 - Quoted Prices	0
Level 2 - Other Significant Observable Inputs	1,135,885,412
Level 3 - Significant Unobservable Inputs	0
Total	1,135,885,412

Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

FORM N-Q

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dreyfus BASIC Money Market Fund, Inc.
By:	/s/ J. David Officer
	J. David Officer
	President
Date:	January 26, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:	/s/ J. David Officer
	J. David Officer
	President
Date:	January 26, 2009
By:	/s/ James Windels
	James Windels
	Treasurer
Date:	January 26, 2009

EXHIBIT INDEX

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)

EX-99

SECTION 302 CERTIFICATION

I, J. David Officer, certify that:

1. I have reviewed this report on Form N-Q of Dreyfus BASIC Money Market Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

By:	/s/ J. David Officer
	J. David Officer
	President
Date:	January 26, 2009

SECTION 302 CERTIFICATION

I, James Windels, certify that:

1. I have reviewed this report on Form N-Q of Dreyfus BASIC Money Market Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

By:	/s/ James Windels
	James Windels
	Treasurer
Date:	January 26, 2009