Mongolia's foreign exchange reserves hit all time high - News.MN

Mongolia’s foreign exchange reserves hit all time high

Mongolia’s foreign exchange reserves hit all time high

Mongolia’s foreign exchange reserves reached 4.5 billion U.S. dollars at the end of this year, hitting an all-time high.

The record was attributed to measures taken by the Bank of Mongolia to ensure the stability and adequacy of foreign exchange reserves and increase the purchase of precious metals. The bank has purchased 100 tonnes of gold over the last five years.

The amount of foreign exchange reserves is enough to cover imports for 10 months.

Mongolia’s foreign exchange reserves stood at 4.2 billion dollars at the end of 2019.

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