A.Batsukh: Tugrug Rate Is Getting Tightened
In recent days a fear that tugrug rate might fall down is among the public. Halting of lending by commercial banks contributed to this guesstimate. Last Friday, authorities of Ministry of Finance and the Mongolbank expressed their positions officially.
Ch.Ulaan, Minister of Finance highlighted that Mongolian economy and finance goes through a not so easy phase […]
Minerals Draft Laws Are Discussed As a Complex
A group of Democratic Party in the Parliament of Mongolia held a restricted meeting yesterday and discussed laws and regulations to be discussed this week. With reference to 68 percent windfall tax on gold, the Parliament is to discuss draft law on modifications to Bank law and Treasury law. The draft law says that gold […]
B.Enhhuyag: There Was No Way Other Than Folding Money Up
We got details from Mr. B.Enhhuyag, First Deputy Governor of the Mongolbank on why commercial banks halted mortgage lending.
How does Mongolbank’ raise of policy rate affect on the economy? Did commercial banks halt their mortgage lending because of it?
Mongolbank has increased its policy rate three times since last October. We conclude that lending growth, […]
Mr. A.Batsukh, Mongolbank Governor: It Is Clueless That Tugrug Rate Is to Fall Down
With reference to increase in commodity goods price, rumors related to fall-down of tugrug rate in the market and commercial banks would have no reserves have spread. Thus we shared views with Mr. A.Batsukh, Governor of Mongolbank.
It is said Mongolbank sent notices to commercial banks to stop lending because tugrug rate would fall down in […]
Central Bank Increases Policy Interest
Tightening the monetary policy again, the Mongolbank increased the policy interests by 1.35 points up to 9.75 percent. The policy interest of the Central bank is presented by securities interest of the Central Bank weekly and it serves as the interbank guide interest. On November and December 2007 policy interests have been increased twice by […]
O.Chuluunbat: We Are Importing Inflation
Inflation is related with the political decisions.
You are the product of the period when the professionals were produced according to the policy. When did you graduate, specializing in what major?
I studied at International Relations Institute of Moscow between 1976-1981, majoring in international economy, financial relations. My generation was educated during the centrally planned economy and […]
Number of Currency Exchange Outlets Drops
In compliance with the Law on Currency Settlements, passed by the Parliament in 1994 and related supporting regulations, approved by the Governor of Mongolbank in 1995, special permissions were granted for operating a currency exchange outlet. Special permissions were granted to 145 individuals and legal bodies until 2006 however 98 of them were nullified in […]
