ULAN BATOR, Jan 2 (NNN-APA) – Mongolia’s central bank said today, it had purchased a total of 17.8 tonnes of gold in 2023, from legal entities and individuals.
Purchasing gold is one of the key ways for the central bank to ensure the country’s economic stability, according to the Bank of Mongolia.
A statement revealed that, at the close of 2023, Mongolia’s foreign exchange reserves reached 4.8 billion U.S. dollars, marking a rise of 1.4 billion dollars from the end of 2022.
Central banks across the world typically hold gold as part of their foreign exchange reserves.
