Estonia joins third central bank gold agreement

Mining the money

The Bank of Estonia on Monday became a signatory to the third Central Bank Gold Agreement, on the heels of its accession to the Eurosystem at the beginning of this year.

The agreement, to which the other 16 national central banks in the eurozone, the Riksbank and the Swiss National Bank are also signatories, imposes a ceiling of 400 metric tonnes per year on gold sales by all the participating institutions. The agreement was signed in August 2009 and runs for a five-year period.

The sale limits

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