The Reserve Bank of Malawi (RBM) has spent K129 billion on the acquisition of 536 kilogrammes (kg) of gold as part of efforts to enhance macroeconomic stability.
At yesterday’s midday prices of $117,923.63 per kg (according to goldprice.org), the gold stockpile is valued at about $63.2 million.
RBM spokesperson Boston Maliketi Banda confirmed the acquisition, saying the gold forms part of the bank’s long-term strategy to strengthen the country’s official reserves.
To read more, click https://times.mw/etimes/
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