Foreign exchange reserve reaches USD 4 billion

Economy
Erdenejargal.E
e.erdenejargal@montsame.gov.mn
2020-01-02 11:31:14

Ulaanbaatar /MONTSAME/. Mongolian foreign exchange reserves exceeded USD 4 billion, according to the Bank of Mongolia (BoM) which means an increase of USD 600 million compared with the same period of the previous year.


According to the officials, it is due to the result of monetary policy decisions in 2019 aimed at maintaining the stability of the national currency, in addition to stimulating economic growth. The average interest rate on new loans also reached 16.8 percent which showed the decrease of 1.7 points compared with the same period of the previous year.


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