MPP: Government and Mongol Bank must seek to stabilize exchange rates

The caucus of the Mongolian People’s Party (MPP) held its regular weekly meeting on Monday to review next year’s economic outlook. After the meeting, the caucus held press conference about its meeting.

Caucus Chairman of the MPP D.Khayankhyarvaa stated, “Exchange rate fluctuation depends on a number of external factors and economic impacts, we expect that the volume of Mongolia’s exports, especially some agricultural products such as wool and cashmere, will increase next year so Mongol Bank is able to stabilize exchange rate fluctuations at an accurate level.”

He added that as the government closely cooperates with Mongol Bank, they can increase the nation’s foreign exchange reserves and keep exchange rates within an optimal range.

D.Khayankhyarvaa noted that the caucus believes that Parliament should adopt laws on investment banking and exchange rate stabilization to ensure sustainable economic growth.