El Salvador has announced yet another purchase to strengthen its international reserves.
For this reason, it estimates that this second addition “consolidates the country’s assets in the long term, maintaining a prudent balance in the composition of the assets that make up the international reserves.”
The bank declared:
FAQ What recent action has El Salvador taken to bolster its reserves? El Salvador has purchased 9,298 troy ounces of gold for $50 million to strengthen its international reserves. How much gold does El Salvador hold after its latest purchases? With these acquisitions, El Salvador’s gold reserves increase from 44,106 to 67,403 ounces, valued at approximately $360 million. What is the significance of gold in central banking according to the Central Bank of El Salvador?Gold accounts for 20% of global international reserves and is viewed as a strategic asset for long-term financial stability. How does this gold purchase relate to El Salvador’s bitcoin strategy? While El Salvador continues to add bitcoin to its reserves, acquiring 1 BTC daily, its current BTC holdings stand at 7,547.37, valued at over $620 million.
