Central bank held its monthly press conference on Friday, presenting statistics on external sectors
The Bank of Mongolia (BoM) held its monthly press conference on Friday, presenting the statistics on monetary and external sectors as of the end of 2019. Foreign currency exchange reserves rose to USD 4.35 billion as of December 2019, the report said. According to the statistics, the net internal assets of the central bank and depository institutions totaled MNT 17.9 trillion, and the net external assets MNT three trillion during the reporting period. As of the end of 2019, the annual rise in the money supply has reached MNT 20.8 trillion.“Financial accounts profit increased by USD 200 million to USD 20.3 billion. As a result, the total balance of payments reached USD 453 million by the end of 2019, and foreign exchange reserves increased to USD 4.35 billion as of December 2019,” highlighted Director General at BoM’s Research and Statistics Department. Director-General at Reserve Management Financial Markets Department of the Bank of Mongolia, Enkhjin Atarbaatar said, “The Government explicitly outlined the central bank's role when approving the bill on pension loan repayment. BoM purchases precious metals from the domestic market. Therefore, it will buy Erdenes Mongol LLC's silver from the Salkhit deposit. In other words, Erdenes Mongol will pay the bond repayment from this source.”

Published Date:2020-02-03