Half of Gerege Bond proceeds received

B.Chimeg GoGo.mn

2017-11-06 16:09 GMT+8

The first 400 million USD in proceeds from the 800 million USD Gerege Bond and 100 million USD in funding from Asian Development Bank have been received by the Bank of Mongolia (BoM).

The BoM’s foreign currency reserves now stand at two billion USD. BoM Governor N.Bayartsaikhan spoke to Parliament during their last discussion of 2018's monetary policy, and noted that the BoM had, at that time, a 1.7 billion USD foreign currency reserve and a goal to increase it to two billion USD. He also reported that the BoM is now able to maintain a stable currency exchange rate.

In September Mongolian export revenue totaled 4.3 million USD, comparing to last year`s export it increased by 32 percent. 

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