Foreign currency savings increase in Mongolian banks - News.MN

Foreign currency savings increase in Mongolian banks

Foreign currency savings increase in Mongolian banks

Bank deposits in foreign currency amounted to MNT 3.6 trillion in the first two months of 2020. This is an increase of 20.3 percent on the same period the last year.  This will be important for supporting growth, especially when the country emerges from the COVID-19 crisis.

In the reporting period, money supply rose by around 5 percent from the previous year, reaching MNT 20.5 trillion. Remaining debt from total loans provided to entities, corporations and individuals amounted to MNT 17.3 trillion at the end of February. This is an increased performance by 0.6 percent from the same period of the previous year.

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