Press Release: IMF Announces Sale of 10 Metric Tons of Gold to the Bangladesh Bank

IMF News, September 9, 2010

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Canonical URL: Press Release: IMF Announces Sale of 10 Metric Tons of Gold to the Bangladesh Bank

Date of press release: September 9, 2010
Transaction: Sale of 10 metric tons of gold to the Bangladesh Bank (the central bank of Bangladesh).
Pricing basis: Sale conducted on the basis of market prices prevailing on September 7, 2010.
Proceeds: US$403 million (SDR 266 million).

The transaction is part of the total sales of 403.3 metric tons approved by the Executive Board in September 2009 (Press Release No. 09/310).
This sale adds to total sales to official holders of 212 metric tons made to the Reserve Bank of India, the Bank of Mauritius, and the Central Bank of Sri Lanka (Press Releases No. 09/381, No. 09/413, and No. 09/431).
As of end July 2010, a further 88.3 metric tons had been sold under the on-market sales announced in February 2010 (Press Release No. 10/44).

The initiation of on-market sales in February does not preclude further off-market gold sales directly to interested central banks or other official holders (as previously announced in Press Release No. 10/44).
Off-market sales reduce the amount of gold to be sold on the market; this sale to the Bangladesh Bank reduces on-market sales by 10 metric tons.

Press Release No. 10/333 (September 9, 2010).