BUSINESS

How much Gold Reserves does the Central Bank of BiH own?

The Central Bank of Bosnia and Herzegovina currently owns 96,000 ounces, or about three tons of monetary gold. It is, as an integral part of foreign exchange reserves, held in an account in a bank in Switzerland, credit rating AAA (Fitch), and is physically located in the vault of the Bank of England.

It was announced from this institution, and on the occasion, as they stated, 12 years of protection against risk. Namely, on the last day of March 2009, the Central Bank of BiH purchased 42,352,167 ounces of monetary gold that the state of BiH received through the Agreement on Succession Issues.

Monetary gold has traditionally been an integral part of foreign exchange reserves of almost all central banks and is considered the safest component of foreign exchange reserves.

In theory, gold is characterized as an asset protected from the negative effects of inflation, but also as a good for which demand is growing in uncertain times.

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