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    Azerbaijan sold part of its gold reserves

    IMF announced that Azerbaijan sold gold in October

    Baku. 7 January. REPORT.AZ/ Azerbaijan has 22 tons of gold reserves as of January 1, which is 0.07% lower in comparison with data reveled on December 1, 2016, Report informs, referring to World Gold Council (WGC).

    Azerbaijan keeps 12.8% of its total reserves in gold. The country owns 60th biggest gold reserves in the world.

    Notably, International Monetary Fund (IMF) announced that Azerbaijan sold 4.2 tons of gold, in other words 14.39% of its reserves, in October.

    Azerbaijan State Oil Fund (SOFAZ) reported to hold 30.17 tons of gold reserves in September. But IMF told the figure was 29.182 tons.

    US, Germany and IMF are top three gold reserve holders in the world. US has 8133.5, Germany – 3377.9 tons of gold reserves, which makes up respectively 74.2% and 68.1% of their total currency reserves.

    Mongolia is a country with smallest gold reserves with 1 ton, which makes 2.8% of its overall currency reserves. 

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