Mongolia in Talks With China to Double Currency Swap Agreement

September 06 04:44 2013 Print This Article

Bloomberg  2013-09-05

By Michael Kohn
Mongolia’s central bank is in talks
with the People’s Bank of China to double a currency swap
agreement between the nations to 20 billion yuan, says
Sandagdorj Bold, chief economist at the Bank of Mongolia.
* China and Mongolia signed a currency swap agreement for 5
billion yuan in May 2011, which was then increased in March
of this year to 10 billion yuan {FIFW NSN M184MW6KLVRE
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* Mongolia had $2.7 billion of foreign currency reserves at
end of August, down 34% from beginning of this year, Bold
says by e-mail.

To contact the reporter on this story:
Michael Kohn in Ulaanbaatar at +65-6212-1000 or
mkohn5@bloomberg.net

To contact the editor responsible for this story:
John Liu at +86-10-6649-7565 or
jliu42@bloomberg.net

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Saranchimeg Enkhee
Saranchimeg Enkhee

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