ULAN BATOR, Jan. 8 (Xinhua) -- 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. ■