Nov 16, 2013

Myanmar announces figures of gold, forex reserves

The Central Bank of Myanmar announced that the country had 7.1539 tons of gold reserve and 8. 19 billion U.S. dollars worth of foreign exchange reserve as of the end of October 2013, the state media reported Wednesday.

Daw Khin Saw Oo, vice governor of the bank, told the parliament that the 7.1539 tons of pure gold were kept at the central bank, while the 8.13 billion dollars were either kept at the central bank and local banks in cash or being deposited with foreign banks that have links with their Myanmar counterparts.

It is the first time in many years that the bank of the Finance Ministry disclosed such figures to the public in a transparent manner, local media commented.

Source: Xinhua