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Mongolia’s central financial institution bought a complete of 19.9 tons of gold within the first 11 months of this 12 months from authorized entities and people.
As of November, the Financial institution of Mongolia’s common gold buy worth had been 197,545 Mongolian tugriks (57.7 U.S. {dollars}) per gram, the financial institution mentioned in an announcement.
Buying gold is among the key methods for the central financial institution to make sure the nation’s financial stability by persistently rising overseas foreign money reserves, mentioned the financial institution.
Mongolia’s overseas alternate reserves fell to 2.8 billion {dollars} on the finish of October, down 36 % from the start of this 12 months, the financial institution mentioned.—Xinhua
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