Dollar – Tugrik rate raised in 2016 Budget Law

2015 оны 11 сарын 20

The dollar was rated MNT 1800 in this year’s budget. The new budget law has changed the dollar rate to MNT 2030. The “Naiman Sharga Currency Center” is currently selling the dollar at MNT 1995, and buying at MNT 1993. The commercial banks are selling the dollar for MNT 1998, and buying at MNT 1990.

Economists are saying that the reduction in foreign direct investment (FDI) and export deposits, the budget deficit of MNT 800 billion are reflected in the high dollar rate. Government officials are assuming that: “If the first investment of Oyu-Tolgoi underground mining, MNT 4.2 billion comes before the end of the year, as is the planned, the dollar rates will be reduced”.   

 

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