CENTRAL BANK GIVES MONTHLY STATISTICAL UPDATES

On February 25, the Bank of Mongolia provided the latest updates on the monetary and financial market statistics as of January 2021. 

• According to the central bank, the balance of payment for 2020 was in surplus of USD 780 million, suggesting a positive trend of increase in currency reserves and stable currency and the balance of payment for this year is forecasted to have a surplus of USD 500-600 million. 
• In the reporting period, foreign trade balance showed a profit of USD 181 million, with coal export volume returned to its pre-COVID-19 level. 
• Money supply reached MNT 24.2 trillion, with increase of 18 percent compared to the same period of previous year. However, no significant change has been noticed in the money supply since last month. Out of the total amount in money supply, MNT 18.8 trillion are held as net domestic assets by the Bank of Mongolia and savings companies, and net foreign assets reached MNT 5.4 trillion. 
• The amount of total savings reached MNT 18.2 trillion, and MNT 15.6 trillion are personal savings and MNT 2.6 trillion are business or company savings. 
• Some 100,561 borrowers are holding around MNT 4.9 trillion of mortgage loan loans in total, and among them, 74,800 people borrowed loans under the government-funded mortgage program, amounting to MNT 3.7 trillion. In January 2021, 654 new borrowers received mortgage loans with total amount MNT 53.2 billion.