The Central Bank of Mongolia purchased 1.35 tons of precious metals in January, 2021, showing an increase of 750 kg compared to the same period of the previous year.

The branches of the bank in Darkhan-Uul and Bayankhongor provinces bought 15.7 kg and 60.3 kg precious metals, respectively.

The average value of bank’s purchase of 1 gram of gold was MNT 170,985.19 in January 2021.

Mongolia’s foreign exchange reserves reached 4.5 billion U.S. dollars at the end of this year, hitting an all-time high.

The record was attributed to measures taken by the Bank of Mongolia to ensure the stability and adequacy of foreign exchange reserves and increase the purchase of precious metals. The bank has purchased 100 tonnes of gold over the last five years.

The amount of foreign exchange reserves is enough to cover imports for 10 months.