IMF Announces Sale of 10 Metric Tons of Gold to the Bangladesh BankPress Release No. 10/333
September 9, 2010
The International Monetary Fund (IMF) announced today the sale of 10 metric tons of gold to the Bangladesh Bank, the central bank of Bangladesh. The sale was conducted on the basis of market prices prevailing on September 7, 2010 with proceeds equivalent to US$403 million (SDR 266 million).
This transaction is part of the total sales of 403.3 metric tons approved by the Executive Board in September 2009 (see Press Release No. 09/310), and it adds to the 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 (see 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 (see Press Release No. 10/44).
As previously announced (see 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. Such sales reduce the amount of gold to be sold on the market, with a reduction of 10 metric tons in the case of this sale to the Bangladesh Bank.
As previously indicated, the Fund will report regularly to the public on progress with the gold sales.
Gold Sales—Frequently Asked Questions:
Factsheet: Gold in the IMF: http://www.imf.org/external/np/exr/facts/gold.htm
Press Release on Gold Sales: http://www.imf.org/external/np/sec/pr/2009/pr09310.htm