Central Bank of Mongolia actively buys gold in 2021

According to the press service of the Bank of Mongolia, precious metal is purchased from legal entities and individuals. The volume of gold reserves in the country increased to 10.62 tons in July 2021. In February of this year, it amounted to 8.16 tons.

The leadership of the main financial institution said that the acquisition of gold is one of the key ways to ensure the economic stability of the country.

At the end of April this year, the volume of international foreign exchange reserves of the Asian country reached a record figure of 4.9 billion US dollars.

Central banks around the world store gold in their international foreign exchange reserves, since it can be used to carry out international settlements, cover the balance of payments deficit, stabilize the national currency in international markets, etc.