Mongolian Central Bank buys 2.2 tonnes of gold

The Mongolian Central Bank, also known as ‘Mongol Bank’, bought 2.2 tonnes of gold from legal entities and individuals during the first three months of 2017. The purchase indicates that gold transactions have increased by 300 kg or 15.7 percent for same time in 2016. By the end of this year, Mongol Bank expects to have bought 22 tonnes, thereby increasing the exchange reserve by USD 880 million.

Mongol Bank bought a total of 18.3 tonnes of gold in 2016.