Mongolia’s FX reserves have reached a record high of USD 5 bln. This increase is expected to bolster the private sector’s financial activities, enhance the country’s credit rating, strengthen confidence in the Mongolian Tugrik, and support overall economic stability. The reserves had previously dipped to their lowest since 2017, at USD 2.6 bln in August 2022, due to a widening current account deficit influenced by various economic factors.