In May, foreign exchange reserves of Mongolia have reached MNT 3.26 billion - the highest level since 2013. In other words, foreign exchange reserves increased by 9.3 percent from the previous month or 2.6 times year-on-year. In May, the balance of payments made a surplus of USD 201.7 million, an increase of USD 248.7 million from the previous month and USD 303.1 million year-on-year. The increase in the balance of payments was due to a rise in world commodity prices, increase of foreign direct investment and a loan of the International Monetary Fund under the Extended Funding Program. The Bank of Mongolia reports that the surplus of balance of payments is likely to grow.

Source: BloombergTv.mn