The steady rise of Mongolia’s foreign exchange reserve - News.MN

The steady rise of Mongolia’s foreign exchange reserve

The steady rise of Mongolia’s foreign exchange reserve

Mongolia’s foreign exchange reserves are expected to reach 4.2 billion U.S. dollars by the end of this year.

Currently, the Central Bank of Mongolia, or Mongol Bank, has a total of 4 billion U.S. dollars of foreign exchange reserves. The figure is expected to reach 4.2 billion U.S. dollars by the end of this year,” said B.Lkhagvasuren, president of the Bank of Mongolia.

Mongolian central bank has been striving to continuously increase its foreign exchange reserves to ensure economic stability.

To put things in perspective: Mongolia’s foreign exchange reserves reached 3.5 billion dollars at the end of 2018, up almost 20 percent from the previous year.

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