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FX reserve reach USD 3.8 billion and increase by 33% www.gogo.mn
As of July, the total foreign exchange reserves reached USD 3.8 billion. It increased by 12% from the beginning of the year and by 33% from a year ago.
However foreign exchange reserves increased, MNT has weakened against the USD and is equal to MNT 3473. 1 USD was equal to MNT 3440 in July.
The Bank of Mongolia is in charge of ensuring the ability and reliability of foreign exchange reserves that it owns and manages. The state reserves of foreign exchange in the Bank of Mongolia consist of the following types of assets:
Gold stored in foreign banks and financial institutions,
Convertible foreign exchange in cash and non-cash form,
Promissory notes held in freely convertible foreign currencies,
All types of securities denominated in freely convertible foreign currency issued or certified by foreign governments, central banks, and international financial institutions,
Other assets considered as foreign exchange reserves internationally.
Published Date:2023-08-23
