ULAN BATOR, April 7 (Xinhua) -- Mongolia's central bank said Friday that it purchased 2.2 tons of gold from legal entities and individuals in the first quarter of this year.
The bank's average gold purchase price was 216,200 Mongolian tugriks (61.5 U.S. dollars) per gram as of March, the central bank said in a statement.
Buying gold is one of the key ways for the central bank to ensure the country's economic stability by consistently increasing foreign currency reserves, it said.
Mongolia's forex reserves increased to 3.4 billion dollars at the end of March, up from 2.5 billion dollars in the middle of last year, Minister of Economy and Development Chimed Khurelbaatar said.
The country's forex reserves reached a record high of 4.9 billion dollars at the end of April in 2021, according to its central bank. ■