Mauritius buys IMF gold

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The Bank of Mauritius has bought two tonnes of gold from the International Monetary Fund (IMF).

The IMF put the value of the sale at $71.7m, saying on Monday that it was conducted at the market price on 11 November.

"Over the recent years, the foreign exchange reserves of the bank have increased significantly while the gold holdings have remained constant. Consequently, the percentage holding of gold, which stood at 13% of the total reserves at end-December 1979, has declined and stood at 2.34%

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