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Mongolia's central bank acquires 16.5 tons of gold in 2024 www.xinhuanet.com
The Bank of Mongolia, the nation's central bank, procured a total of 16.5 tons of gold from legal entities and individuals throughout 2024, local media reported on Wednesday, citing an official statement from the bank.
This represents an approximate 8 percent decline compared to the previous year's gold purchases, the bank said.
Central banks globally hold gold as a key component of their foreign exchange reserves, and Mongolia is no exception.
Despite the reduction in gold acquisitions, the Asian country's foreign exchange reserves reached an all-time high of 5.5 billion U.S. dollars by the end of 2024, according to the Bank of Mongolia.
Published Date:2025-01-08
