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Mozambique’s reserves of more than three and a half tonnes of gold appreciated by 13.4% in 2023, to more than USD 261.1 million (€241.7 million), according to an annual report by the Bank of Mozambique
Mozambique’s reserves of more than three and a half tonnes of gold appreciated by 13.4% in 2023, to more than USD 261.1 million (€241.7 million), according to an annual report by the Bank of Mozambique.
As on 31 December Mozambique had the same amount of gold reserves as on the same date in 2022, of approximately 126,575 ounces, but they were then worth USD 230,391,423 (€213.2 million), which is equivalent to around 3,588 kilograms of gold.
At the end of 2023, the same amount of gold held by the Bank of Mozambique – which is part of the central bank’s foreign exchange reserves – was worth USD 261,142,767, according to the same figures. The foreign exchange reserves are made up of gold bullion, fine silver and platinum, special drawing rights, foreign currency and other assets denominated in foreign currency with guaranteed convertibility, explains the central bank.
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As of 31 December 2023, Mozambique’s foreign exchange reserves exceeded 229.637 billion meticais (€3.325 billion), in this case less than half in one year, compared to 537.342 billion meticais (€7.780 billion) in 2022.
