The exchange rate of Mongolian national currency the tugrik against the U.S. dollar is depreciating faster in recent days, the Bank of Mongolia, Mongolia's central bank, said Monday.
The exchange rate of the U.S. dollar against the tugrik stood at 2,530 on Monday. The exchange rate stood at 2,490 a week ago.
The latest decline has brought the tugrik-dollar exchange rate to the lowest level in history.
The depreciation was directly related to higher imports and seasonal business activities that led to the outflow of dollars, according to experts from the central bank.
The exchange rate of the U.S. dollar against the tugrik stood at 2,530 on Monday. The exchange rate stood at 2,490 a week ago.
The latest decline has brought the tugrik-dollar exchange rate to the lowest level in history.
The depreciation was directly related to higher imports and seasonal business activities that led to the outflow of dollars, according to experts from the central bank.
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