Улаанбаатар
Mongolia’s Foreign Currency Reserves Reach USD 5.2 Billion
Politics
Ulaanbaatar, April 17, 2025 /MONTSAME/. During the regular session of the Cabinet of Mongolia on April 16, 2025, Minister of Finance of Mongolia Javkhlan Bold, who is also the Head of the Working Group in charge of increasing exports and promptly resolving pressing issues, delivered a presentation on the current state of exports of mining products and foreign currency reserves.
The Working Group is implementing the “Comprehensive Measures to Increase the Export of Mining Products and Increase Mongolia’s Foreign Currency Reserves” approved by Government Resolution No. 135 of March 19, 2025.
Export revenues reached USD 278 million this week, marking a 17 percent increase compared to the previous week. This growth was mainly driven by coal exports, which rose by 25 percent to 1.9 million tons.
Although the coal stockpiles remain high at the Gashuunsukhait border port, exports to the People’s Republic of China have increased over the past week and are expected to continue. Meanwhile, the Shiveekhuren border port recorded coal exports of 758 thousand tons last week, which is the highest weekly figure since the beginning of the year. On the other hand, the Khangi border port recorded coal exports of 1.1 million tons, a decrease of 32 percent compared to the same period in 2024. In response, the Working Group is undertaking relevant measures to boost export volumes.
The Mongolian Mining Exchange achieved its highest coal trading volume of the year last week, with a total of 480,000 tons traded. Exports of other mining products, such as copper concentrate and iron ore, are also on the rise. Copper concentrate exports reached 42,000 tons, a two percent increase from the previous week, while iron ore exports rose by 14 percent to 177,000 tons.
As of April 15, 2025, Mongolia’s foreign currency reserves stood at USD 5.2 billion, reflecting an increase of over USD 230 million from the previous week. To enhance foreign currency inflows, the Working Group presented additional measures to be taken in the future. In this regard, the Cabinet reviewed and approved the draft Resolution on Several Measures to Allocate Land in Green Channels and Border Areas and Expand the Capacity of Key Ports, aimed at increasing coal exports.
