AKIPRESS.COM – In the first quarter of 2024, the Central Bank of Mongolia, also known as MongolBank, acquired 3.4 tons of gold.
The purchase of gold serves as a significant tool for MongolBank in its efforts to boost the country’s gold and foreign exchange reserves.
MongolBank’s purchase price for gold in March was $69.1 per gram, which is relatively low compared to the London Metal Exchange rate.
As reported by MongolBank, the country’s gold and foreign exchange reserves currently stand at $5.2 billion.
In 2023, the Bank bought 17.8 tons of gold.