As of July, the bank’s average gold purchase price was 164,862.22 Mongolian tugriks (around $58) per gram, the Bank of Mongolia said in a statement.

Purchasing gold is one of the key ways for the central bank to ensure the country’s

An expert group reviewing the cause of a US$1.4-billion cost overrun at a Mongolian mine run by Rio Tinto said it was caused by the miner’s mismanagement, the Wall Street Journal reported on Monday, citing a report.

Costs to expand the

The UK’s financial watchdog is conducting a probe into Rio Tinto and its late-running USD 6.75bn underground copper project in Mongolia’s Gobi Desert.

The Financial Conduct Authority is investigating whether the Anglo-Australian company breached listing rules in disclosures about the value

The large and comprehensive economic stimulus launched by the Mongolian government from February 2021 has eased pressure on asset quality for the banking sector amid the economic disruptions caused by measures to contain Covid-19.

Fitch Ratings expects the stimulus to be

The World Bank has approved a USD 100-million loan to support a sustainable urban transport project in the Mongolian capital of Ulaanbaatar, the bank’s office in Mongolia said Thursday.

The project is aimed at developing a comprehensive framework for sustainable urban

MongolBank or the Central Bank of Mongolia announced on Wednesday that its monetary policy council has decided to keep the benchmark interest rate unchanged at 6 percent.

In addition, inflation is expected to be around the target rate of 6 percent

Golomt Bank of Mongolia secured a USD 10 million loan with a tenor of five years from International Investment Bank (IIB) on 10 June 2021. Golomt Bank plans to utilize the loan proceeds to finance the SMEs, the projects with

Mongolia’s national consumer inflation reached 6.2% in May, up by 0.7% m/m, according to the country’s national statistics office.

Inflation was 5.6% in April.

The increase was affected by the increased price of consumer goods such as imported alcoholic beverages and tobacco