Tajikistan’s gold and currency reserves of the nation hit $801.6 million

Former soviet state Tajikistan said gold and currency reserves of the nation hit $801.6 million on the last day of last year.

According to country’s central bank National Bank of Tajikistan (NBT), reserves rose 20.8 percent in a year to December 31, 2011 from $ 66.5 million in 2010.

Tajikistan’s money supply rose 28 percent in a year to December 31, 2011, reaching 3.8 billion somoni.

In 2011, 1.2 billion somoni of new banknotes were put into circulation and 456.3 million somoni of dilapidated banknotes were immobilized.

The country recently passed a law on Precious Metals and Stones to give the state greater control over the country’s natural wealth and make it a priority in developing the economy.

Tajikistan, sits on the gold belt, located in Central Asia’s Tian Shen mountain range has only a small domestic market for gold, with the main buyers being the National Bank, the Treasury and a small number of jewellery makers. – BullionStreet

Tags: Tajikistan gold reserves

Posted by admin on Jan 23 2012. Filed under Gold predictions. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry