Mongolia’s foreign exchange reserve reaches USD 3.9 billion - News.MN

Mongolia’s foreign exchange reserve reaches USD 3.9 billion

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2019/12/08

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Mongolia’s foreign exchange reserve reaches USD 3.9 billion

According to the Central Bank of Mongolia, also known as Mongol Bank, the national foreign currency reserve has hit USD 3.9 billion. This will cover the country’s demand of foreign currency for nine months’ import trade.

However, the Mongolian Government needs to focus on decreasing budget deficits and cabinet debts, estimating tax revenue accurately and attracting foreign investments when discussing 2020 State Budget. Mongolia will need to act appropriately with the three-year accumulated reserve, in order to avoid foreign exchange market intervention for stabilizing exchange rates.

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