Mongolia's central bank buys 4.3 tons of gold-Xinhua

Mongolia's central bank buys 4.3 tons of gold

Source: Xinhua| 2024-05-02 15:34:15|Editor: huaxia

ULAN BATOR, May 2 (Xinhua) -- Mongolia's central bank has purchased a total of 4.3 tons of gold from legal entities and individuals since the beginning of this year, the bank said Thursday.

Purchasing gold is one of the key ways for the central bank to ensure the country's economic stability by consistently increasing foreign exchange reserves, according to the Bank of Mongolia.

The Asian country's forex reserves have risen to 5.25 billion U.S. dollars, hitting an all-time high, said the bank.

Central banks across the world typically hold gold as part of their foreign exchange reserves.