June 14, 2012 on: Economical

The Mongolbank announced on June 14, 2012, by forex auction, the BoM sells USD 30 million at closing rate of MNT 1321.53 as received the bids to buy USD.

FOREX auction is one of the instruments used by the Bank of Mongolia to make the domestic currency market operations obvious and fair, increase the benefit and ensure the stability of national currency – MNT. The FX auctions are launched in Tuesdays and Thursdays within the officially licensed banks in Mongolia. BoM prefers to provide the domestic market participants with clear and fair information to not let the MNT rapid fluctuation comes out and to ensure the sustainability of the currency market. The offers from the banks and the BoM participation level were stopped being announced to the public due to its negative effect on the above principle on December 27 of 2010. And the BoM continues reporting the closing exchange rate of the FX auction.

SOURCE OF THIS ARTICLE : news

Please note that this article and / or its accompanying media (picture, video, sound files etc…) has not been written, created or taken by M.A.D. Investment Solutions staff. It is not copyrighted to M.A.D. Investment Solutions nor does the company claim any ownership or rights towards the content and its accompanying media. The above article does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant as a source of information to readers and does not constitute a legal or biding agreement in any way, shape or form. Ownership of the content and its accompanying media remains with its legal owner or contributor but was sourced from Public Domain sources. If you are the owner of this content or its media and would like it replaced or taken out of our website, please contact us on: info@mad-mongolia.com. For contact and comments directly relating to the above article and or its accompanying media, please refer to the source as stated above.

Did you enjoy this article? Please consider sharing it!

Real Estate Mongolia

M.A.D Investment Solutions Office

Sukhbaatar District, 4th Khoroo
Building no 67, Unit 1&2.
Ulaanbaatar, Mongolia

Tel: +976 11 312 500 (Office)
Tel: +976 95 853 377 (English)
Tel: +976 99 770 439 (Mongolian)
Email : info@mad-mongolia.com

Website design and contents copyright @ M.A.D. Investment Solutions 2009 - 2012 - All rights reserved. Disclaimer