Mongolia’s central bank purchased a total of 16.1 tonnes of gold in the first 11 months of this year from legal entities and individuals. As of November, the Bank of Mongolia’s average gold purchase price had been MNT 219,514.35  (USD 64) per gram.

Purchasing gold is one of the key ways for the central bank to ensure the country’s economic stability. The Asian country’s foreign exchange reserves stood at USD 4.124 billion by the third quarter of this year.

The country’s forex reserves made a record of USD 4.9 billion at the end of April 2021. The Bank of Mongolia, which bought 22.9 tonnes of gold last year, has set a goal to obtain at least 22 tonnes by the end of this year.