Mongolia to work with BOK on its foreign exchange system

Oyundelger 2017-06-22 04:06

Economy

Bank of Mongolia in cooperation with the Bank of Korea will realize a ‘Development of an overall crisis management system’ program.

Mongolia to work with BOK on its foreign exchange system. Bank of Mongolia in cooperation with the Bank of Korea will realize a ‘Development of an overall crisis management system’ program. Sides signed the cooperation agreement on June 21, Wednesday. The project team will identify a strategy to develop Mongolia’s foreign exchange market in the frameworks of the program which will wrap up this year. The Bank of Korea’s study on Mongolian foreign exchange market is expected to make a major contribution to Mongolian economy, especially foreign exchange policy. D.Boldbaatar, Senior Economist in the Monetary Policy division of the Bank of Mongolia said, “Mongolia’s exchange market is relatively less transparent, and isn’t functioning efficiently”.