Lithuania bought 1.6 tonnes of gold as part of euro switch
Adopting the euro allows Lithuania to diversify reserves
The Bank of Lithuania bought 1.6 tonnes of gold as part of the process of joining the eurozone, according to the latest figures for central bank gold holdings, published by the World Gold Council in April.
The figures show the central bank made purchases representing more than 25% of its total gold holdings, which were then transferred to the European Central Bank (ECB). Central banks joining the eurozone must contribute to ECB reserves, 15% of which comes in the form of gold.
Marijus
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