In a statement issued by the National Bank on August 21, 2016, it allowed gold producing companies to use the foreign currency they get from selling gold for three months.
The bank added that the national bank will cover the cost of gold suppliers who supply between 250.01 grams and 25 kilograms of gold at a time.
Also, the bank announced that the gold suppliers will take 95 percent of the gold they provide in advance and keep the remaining 5 percent as a reserve price for 30 consecutive days from the date of handing over the gold to the buying centers.
by Nardos Tamirat
2024-08-28
