Mongolia’s foreign exchange (forex) reserves rose to USD 4.3 billion at the end of November, said the Ministry of Economy and Development.

The amount is adequate to cover imports for at least six months.

Due to the deepening of a current account deficit caused by external and internal economic conditions, the Asian country’s forex reserves had shrunk to USD 2.6 billion in August 2022, hitting the lowest level since 2017.

The country’s forex reserves hit an all-time high of USD 4.9 billion at the end of April 2021.