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Mongolbank

Mongolia Raises Rates Amid Debt Pressure 0

Mongolia’s central bank raised interest rates this week by 1.5 percentage points to 12% to help stabilize an economy that’s been buffeted by high inflation and falling foreign investment in its mining

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Mongolian foreign exchange reserves decline to worrying level 0

Analysts of Morgan Stanley financial services cooperation, Desmond Lee and Gaurav Singhal reported that Mongolia’s foreign exchange (FX) reserves reached 1.7 billion USD by the end of April. However, Mongolia’s

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Mongolia’s Central Bank Plans to Double Currency Swap With China 0

Mongolia’s central bank said it intends to extend a bilateral local currency-swap line with the People’s Bank of China for three years and double its size to 20 billion yuan. “This

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BANK OF TOKYO MITSUBISHI UFJ TO OPEN ITS REPRESENTATIVE 0

October 22, 2013 The Bank of Mongolia (BoM) has allowed the Bank of Tokyo Mitsubishi UFJ Ltd (BTMU) to open its representative office in Ulaanbaatar. A preparation to this measure

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FOREX AUCTION RUNS 0

Ulaanbaatar /MONTSAME/ On the Foreign Exchange Auction held Tuesday, the Bank of Mongolia (BoM) received bid offer of USD and CNY from local commercial banks. The BoM sold USD 22.0

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Bank of Mongolia should brace for impact of runaway growth, says IMF 0

The Bank of Mongolia should do more to avoid losing control of the country’s rapidly growing economy, as inflation creeps up and financial stability risks rise, the International Monetary Fund

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Mongolia to Take Over Savings Bank as Fifth-Largest Lender Fails 0

bloomberg.com  Jul 23, 2013 Savings Bank, Mongolia’s fifth-largest lender, has been declared insolvent after affiliated companies defaulted on loans, and will be taken over by a state-owned competitor, the central

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Bank of Mongolia launches ‘interest rate corridor’ 0

At its meeting on 27 February 2013, the Monetary Policy Committee (MPC) of the Bank of Mongolia decided to establish an interest rate corridor based on macroeconomic conditions, demand for

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Governor Zoljargal meets Deutsche Bundesbank President in Germany 0

March 29 (Bank of Mongolia) In mid March, Governor of the Bank of Mongolia N.Zoljargal has paid a working visit to the Federal republic of Germany. During his visit, on

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Monetary Policy of Mongolia: Will it Finally Hit its Targets in 2013? 0

March 28 (Mongolian Economy) The Bank of Mongolia has been criticized for several years now for not being able to pursue monetary policies that had effective results. Undeniably, policy targets

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