Mongolia is facing an increasingly serious foreign currency crunch, with foreign exchange reserves down 40 percent in August from a year earlier to USD 2.7 billion and the current account deficit ballooning. In addition, the tugrik has taken a beating due

Chinese coal traders are rushing to the small town of Ganqimaodu on the Mongolian border to cash in on imports as prices of the fuel have soared nearly 40 percent in a month after mine safety checks crimped supply while

This year, Mongolian Tugrik has fallen almost 15 percent against the US dollar. The declining currency has pushed up the cost of everyday goods for a country struggling to navigate global economic crisis.

According to the National Statistical Office,  inflation in

China imported 6.41 million  tonnes of coking coal in August, up by 5 percent from July and up 37 percent from a year earlier, according to Chinese customs data. January-August imports rose by 25 percent from a year earlier to

Mongolia’s foreign exchange reserves have shrunk to USD 2.6 billion U.S. at the end of August, down around USD 1.9 billion from the beginning of this year.

The significant decrease in the forex reserves is largely related to a current account

Khan Bank joined Asian Development Bank’s (ADB) Trade and Supply Chain Finance Program (TSCFP) in 2010 to improve the availability of trade finance products it offers to businesses and traders. Thanks to the program, Khan Bank was able to partner

Small and medium-sized enterprises (SMEs) are important contributors to job creation, innovation, and global economic growth and play a critical role in social cohesion. According to World Bank estimates, 600 million new jobs will be needed to absorb the growing

Today (20 September), the Bank of Mongolia raised the country’s benchmark rate by 200 basis points to 12 percent, the fourth this year, for a total of 600bp of monetary tightening.

The increase brings the policy rate to its highest level