MNT savings increase at commercial banks

The American Chamber of Commerce in Mongolia

2018-05-29 11:47 GMT+8

Despite MNT depreciation in recent days, the Mongolian tugrug had been steadily appreciating. The balance of payments surplus in 2017 has had an impact on the MNT's appreciation.

Analysts say that faith in the MNT has strengthened and that savings in MNT have been increasing since the end of 2017, while deposits in foreign currencies have fallen.

According to the Bank of Mongolia, savings in MNT have grown by 2 trillion MNT year on year, and are currently at 8.8 trillion MNT.  

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