Ulaanbaatar
Mongolia’s Foreign Exchange Reserves Reach USD 5 Billion
Economy
Ulaanbaatar, April 2, 2025 /MONTSAME/. During the regular session of the Cabinet of Mongolia on April 2, 2025, Minister of Finance Javkhlan Bold presented the current situation of Mongolia’s exports and foreign exchange reserves.
Minister of Finance of Mongolia Javkhlan Bold noted, “A Task Force assigned to increase exports and swiftly address pressing issues met with representatives from the banking sector to discuss cooperation in protecting the National Foreign Exchange Reserves. The Financial Stability Council (FSC) convened to resolve related issues and develop policy recommendations. In the first quarter of 2025, Mongolia exported 17.4 million tons of coal and 1.8 million tons of iron ore, which is on par with the same period last year. Copper concentrate exports, however, increased by 24 percent, reaching 456,000 tons. As of April 1, 2025, the National Foreign Exchange Reserves rose by USD 305 million compared to the previous week.”
This marks the third time the Foreign Exchange Reserves have reached this level. The Government will pursue policies to maintain and further increase this reserve sustainably. In the first quarter of 2025, copper exports rose by 40 percent in volume compared to 2024. Consequently, tax revenues have also increased. In other words, the shortfall from coal is being compensated by copper. Construction projects will commence in the second quarter of 2025. At that time, revenues typically increase and have a positive impact on the economy, so the Government will place special emphasis on prioritizing and planning investments and current expenditures accordingly.”
