Bank of Mongolia hopes to bring foreign currency reserves to 5 billion USD in 2018

The American Chamber of Commerce in Mongolia

2018-05-04 16:10 GMT+8

During Parliament’s regular session on May 3, Ts. Batsukh, Ch. Khashchuluun and Ts. Munkhbayar were appointed independent members of the Bank of Mongolia's Monetary Policy Committee.

According to the recently amended Law on the Central Bank, Parliament is obligated to appoint four independent members of the Monetary Policy Committee for 6-year terms.

Chair of the Economic Standing Committee D. Damba-Ochir said, “The Bank of Mongolia’s foreign currency reserves currently stand at 3 billion USD and will grow to 5 billion USD by the end of 2018. The currency rate is stable and financial resources coming from donor countries are  likely to reduce the currency exchange rate.”

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