Since the new specimen laboratory was built in Darkhan-Uul aimag by October 25th the Bank of Mongolia Darkhan Uul aimag division has purchased 25.6kgs of gold.

On the other hand the division in Baynkhongor aimag has purchased 7.4kgs of gold. The Bank of Mongolia believes that increasing gold purchases is one way to improve the foreign exchange reserves. Within this framework they are planning to open two more labs in the countryside. By September, the BoM purchased a total of 14.3 tons of gold.

The Bank of Mongolia is planning to purchase 22 tons of gold and have USD 760 million foreign exchange reserves this year.

Source: BloombergTv.mn