The Bank of Mozambique (BoM) revealed that reserves of almost four tonnes of gold appreciated by 13.4% in 2023, to more than 261.1 million dollars (16.5 billion meticals).
“In 2022, Mozambique held approximately 126,500 ounces, worth 230.3 million dollars. However, by the end of 2023, that same amount of gold, which is part of the central bank’s foreign exchange reserves, was worth 261.1 million dollars,” the entity explained in a report released on Wednesday, 3 April.
According to the document, foreign exchange reserves are made up of gold bullion, fine silver and platinum, special drawing rights, foreign currency and other assets denominated in foreign currency with guaranteed convertibility.
On 31 December 2023, Mozambique’s foreign exchange reserves exceeded 229.6 billion meticals, less than half in one year, compared to 537.3 billion meticals in 2022.
