ULAN BATOR, Dec 8 (NNN-APA) – Mongolia’s central bank said today, it has purchased a total of 16.1 tonnes of gold in the first 11 months of this year from legal entities and individuals.
As of Nov, the Bank of Mongolia’s average gold purchase price had been 219,514.35 Mongolian tugriks (64 U.S. dollars) per gram, the bank said in a statement.
Purchasing gold is one of the key ways for the central bank to ensure the country’s economic stability, it said.
The country’s foreign exchange reserves stood at 4.124 billion dollars, by the third quarter of this year, according to the central bank.
The country’s forex reserves made a record of 4.9 billion dollars at the end of Apr, 2021.
The Bank of Mongolia, which bought 22.9 tonnes of gold last year, has set a goal to obtain at least 22 tonnes by the end of this year.
