On December 28, Mongol Bank officials announced that the bank will not increase its current interest rate of 12.25 percent. The rate had already been raised three times in 2011.

The bank’s director of foreign currency also said the value of the tugrik has fallen on international markets in recent months, which has resulted in an outflow of foreign currency from Mongolia. But he said the problem is not serious, and the bank will take measures to prevent the tugrik from falling and further.