Mongolia’s foreign exchange reserves reach $3.7bn

10 April, 2019 12:00 AM printer

ULAN BATOR: Mongolia's foreign exchange reserves rose to 3.7 billion U.S. dollars by the end of March, the country's central bank said Tuesday in a statement carried by its website.

The amount increased by 200 million dollars from the end of 2018, said Atarbaatar Enkhjin, head of the Reserve Management and Financial Markets Department at the Bank of Mongolia, reports Xinhua.

Enkhjin noted that the increase was a result of several factors, including the implementation of the three-year Extended Funding Facility (EFF) of the International Monetary Fund (IMF) in Mongolia and higher commodity prices in the global market.