The Mongolian national currency rate against the US dollar has been tightening over  the last few days. According to the Bank of Mongolia, one US dollar is bought by MNT2395, and sold by MNT2406.50.  

The strengthening of the Tugrik is a direct consequence of International Monetary Fund (IMF) funding  within the Extended Fund Facility (EFF). The IMF Executive Board approved a three-year extended arrangement under EFF for Mongolia on 24th May; the next day, the first tranche of USD 38.6 million was transferred to the central bank in order to increase foreign exchange reserves.

The foreign exchange reserves were planned to be raised to USD1.6 billion in 2017, 2.7 in 2018, USD3.5 billion in 2019 and USD4 billion in 2020.