Sri Lanka boosts gold holdings with IMF purchase

gold bars

Sri Lanka has bought 10 metric tonnes of gold from the International Monetary Fund (IMF), paying $375 million for the purchase, the central bank said on Thursday.

"Through such acquisition, the long-term stability of Sri Lanka's external reserves will be strengthened. The gold holdings will provide a stable and long-term cushion against the impact of any potential volatility in major international currencies and financial instruments in international markets," the central bank said.

Ajith Nivard

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