Mongolia's Central Bank Purchases over 16 Tons of Gold in 11 Months

As of November, the Bank of Mongolia's average gold purchase price had been 219,514.35 Mongolian tugriks (64 U.S. dollars) per gram, the bank said in a statement.

Purchasing gold is one of the key ways for the central bank to ensure the country's economic stability, it said.

The Asian country's foreign exchange reserves stood at 4.124 billion dollars by the third quarter of this year, according to the central bank.

The country's forex reserves made a record of 4.9 billion dollars at the end of April 2021.

The Bank of Mongolia, which bought 22.9 tons of gold last year, has set a goal to obtain at least 22 tons by the end of this year.

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