AKIPRESS.COM - The Mongolian Central Bank, also known as ‘Mongol Bank’, bought 2.2 tons of gold from legal entities and individuals during the first three months of 2017, reports news.mn.

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 tons, thereby increasing the exchange reserve by $880 million.

The Mongol Bank bought a total of 18.3 tons of gold in 2016.