According to the financial regulator, foreign exchange reserves reached $4.7 billion by the end of October 2024. Over the past four months, they increased by $700 million, leading to a historic maximum of $5.9 billion by early November 2025. The main reason for this growth was the increase in coal sales revenue.
It is worth noting that in July 2025, the Prime Minister of Mongolia, Lkhagvasuren Gombodzhav, introduced special measures at the largest state-owned company "Erdenes Tavan Tolgoi," which is the main coal exporter. This decision was made to improve foreign currency inflows.
Coal exports significantly increased, reaching a record 3.2 million tons in September. Earlier, the president of the Bank of Mongolia, Lkhagvasuren Byadran, noted that the strict monetary policies of Russia and China contributed to the stability of the inflation rate in Mongolia, which has recently remained at around 7%.
source: MiddleAsianNews
