For­eign cur­rency re­serve reaches 6-year high

The UB Post - - Front Page -

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.

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