Mongolia’s foreign exchange reserves increased to $3.438 billion (275 billion rubles), Mongolian Minister of Economy and Development Ch. Khurelbaatar said at a government meeting, the information portal news.mn reports.
According to the minister, Mongolia’s foreign exchange reserves fell to 2.5 billion dollars (200 billion rubles) half a year ago, and by the end of March this year they increased to 3.438 billion dollars (275 billion rubles).
“Six months have passed since the government meeting in October last year decided to increase Mongolia’s foreign reserves”Jurelbaatar said.
He stressed that in the past six months, many things, from mining to border crossing, have gone digital. “A total of 863 contracts have been registered, Mongolian coal is exported under 863 contracts. In the first three months, Mongolia exported 14 million tons of coal.”said the minister.
He also said that coal is traded on the stock market.
“We introduce competition in the sale of our products on the stock market, and we are doing it well. We also sell coal under border conditions”.added the minister.
He concluded that the sale of mining products demonstrates that transparency is the right thing to do.
Source: Rossa Primavera
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