MNT de­pre­ci­ates 9% in 6 months

Tu­grug has been un­sta­ble in re­cent months. The ex­change rate of one dol­lar reached 2,627 MNT on Sun­day, mark­ing nearly 1.2 per­cent de­pre­ci­a­tion in a week and a whop­ping nine per­cent de­pre­ci­a­tion in half a year...

The UB Post - - Front Page - By B. DULGUUN

Tu­grug has been un­sta­ble in re­cent months. The ex­change rate of one dol­lar reached 2,627 MNT on Sun­day, mark­ing nearly 1.2 per­cent de­pre­ci­a­tion in a week and a whop­ping nine per­cent de­pre­ci­a­tion in half a year.

A dol­lar con­verted to 2,428 MNT in Jan­uary be­fore the tu­grug value ap­pre­ci­ated to 2,391 MNT in March and then faced an abrupt de­pre­ci­a­tion in mid-June, hit­ting 2,464 MNT per dol­lar. After a brief pe­riod of sta­bil­ity be­tween late-June and early-Septem­ber, the ex­change rate of tu­grug against the dol­lar be­came much weaker, ris­ing from 2,472 MNT to 2,567 MNT by mid-Septem­ber. For a while, tu­grug man­aged to hold its value at around 2,560 MNT per dol­lar but start­ing mid-Novem­ber, dol­lar started to grad­u­ally ap­pre­ci­ate.

Tu­grug fell to 2,597 MNT per dol­lar on Novem­ber 25 and to 2,627 MNT on De­cem­ber 2. Com­pared to the 2,444 MNT per USD ex­change rate in De­cem­ber 2017, dol­lar has gone up by 183 MNT in value, mark­ing a 7.5 per­cent de­pre­ci­a­tion.

On Sun­day morn­ing, a dol­lar was bought for 2,630 MNT and sold for 2,640 MNT at Naiman Sharga -Ulaan­baatar’s largest in­ter­na­tional cur­rency ex­change cen­ter. This is a slight im­prove­ment com­pared to last Thurs­day’s ex­change rate when a dol­lar was bought for 2,635 MNT and sold for 2,645 MNT.

Changes in the ex­change rate of MNT against USD since Jan­uary 2018, Source MSE

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