Cambodia Has $19.5 Billion in Foreign Exchange Reserves and 36.5 Tons of Monetary Gold
The National Bank of Cambodia issued a notification regarding foreign exchange reserves and monetary gold on 23 July.
As of the end of August this year, Cambodia has foreign exchange reserves of about $19.5 billion, according to The National Bank of Cambodia. The bank said that we have to control and take care of these reserves.
NBC also stated that Cambodia now has 36.5 tons of monetary gold. The heritage gold of the wars about 12.4 tons is being kept in Switzerland, 14.1 tons is used to invest in the Bank of England, and another 10 tons is in Cambodia.
This announcement comes in order to clarify the data to the public in response to criticism over the use of gold during Covid-19.
The National Bank of Cambodia (NBC), the nation's central bank, is the monetary and supervisory authority. The mission of NBC is to determine and direct the monetary policy aimed at maintaining price stability in order to facilitate economic development within the framework of the kingdom's economic and financial policy.
By: LUNG Vannak