US EditionAfrican Central Banks Fill Their Gold Stocks by Promoting Local Production
2 Articles
2 Articles
In Uganda last week, the Central Bank began buying part of the country's gold production to integrate gold into foreign exchange reserves. The objective is to be less vulnerable to fluctuations in international markets while promoting local production. Uganda's initiative is not the only one in the continent's gold-producing countries.
Uganda's Central Bank Completes First Gold Purchase Under New Programme
NewsGhana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://www.newsghana.com.gh/ugandas-central-bank-completes-first-gold-purchase-under-new-programme/The Bank of Uganda (BoU) has executed its first gold transaction under a newly launched domestic purchasing programme, formally shifting from announcement to action in its strategy to back the country’s foreign exchange reserves with locally mined bullion. The central bank confi…
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