Foreign currency reserve reaches 6-year high
Mongol Bank reported that foreign currency reserve has reached 3.4 billion USD, the highest amount in the last six years.
Main attributing factors were identified as higher prices of key exporting mining products and increased .foreign direct investment. In particular, Mongolia generated six billion USD through exportation, while the International Monetary Fund and international donor organizations granted financing of around 920 million USD to the country this year.
Mongolia currently has enough reserves to cover six months of imports, according to latest reports.