Ulaanbaatar
Foreign Currency Reserves of Mongolia Stand at Approximately USD 4.9 Billion
Economy
Ulaanbaatar, February 10, 2025 /MONTSAME/. As of the end of 2024, Mongolia’s foreign currency reserves reached an all-time high of USD 5.5 billion. However, the current reserves stand at approximately USD 4.9 billion.
On average, exchange rate fluctuations tend to occur at certain times of the year, particularly in September and October when business activities increase, and during the Lunar New Year when demand rises. Recently, factors such as increased outbound tourism and automobile imports have also contributed to these fluctuations. Additionally, the seasonal slowdown of certain mining operations has led to a reduced inflow of foreign currency.
The Bank of Mongolia reported that it has fulfilled all foreign currency purchase orders from commercial banks in full and that operations remain stable.
As of February 10, 2025, the official exchange rate of USD announced by the Bank of Mongolia was MNT 3,455.89.
