Foreign exchange reserves of Mongolia reach 6 billion USD
Montreal News, Ulaanbaatar, December 04, 2023, due to the improvement of Mongolia's sovereign credit and foreign financing environment, as of December 02, the foreign exchange reserves of Mongolia reached 6.14 billion USD, setting a new historical record.
Continuously accumulating foreign exchange reserves is crucial for enhancing the stability of the domestic economy and financial markets, achieving the goals of the central bank, and ensuring the stability of the Tugrik.
The rapid growth of mineral exports has promoted Mongolia's balance of payments, improved its foreign trade performance, and increased foreign exchange inflows through the banking system. The government and the central bank have also successfully implemented debt management measures, by refinancing bonds in the international market and repaying large-scale foreign debts according to actual economic conditions, thus ensuring the smooth repayment of debt.
Original: toutiao.com/article/1850648654644362/
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