National currency rate climbs
EconomyUlaanbaatar /MONTSAME/ USD/MNT rate is now 1/1982, indicating a 70 MNT fall in USD rate since the beginning of this year, when 1 USD was against 2050 MNT.
The strengthening in MNT rate against USD owes to the increase of foreign exchange reserve of the central bank – Mongolbank – sourced by 500 million USD from government bonds, and the allocation of initial investment for the Oyu Tolgoi Underground Mine Development Project, observes economists.