Mongolia’s foreign exchange (forex) reserves have exceeded 4 billion U.S. dollars again, Minister of Economy and Development Chimed Khurelbaatar said Tuesday. The country’s forex reserves stood at 4.124 billion dollars at the end of September, the third straight monthly rise. Due to the deepening of a current account deficit caused by external and internal economic conditions, the country’s forex reserves had shrunk to 2.695 billion dollars at the end of August 2022, hitting the lowest level since 2017, according to the country’s central bank.—APP
