The Bank of Mongolia, the country’s Central Bank, and reports that money supply (broad money or M2) at the end of September decreased by 1.1 percent or MNT 28.8 billion over August. However, the figure of MNT2, 547.1 billion was an increase of 16.2 percent or MNT 355.2 billion compared to September last year.

Currency in circulation decreased 8.7 percent or MNT 34.6 billion against August, but at MNT 361.1 billion was an increase by 8.3 percent or MNT 27.7 billion over September, 2007. The MNT1, 112.0 billion time deposits were an increase by 0.7 percent or MNT 7.3 billion over August of 2008, and by 7.8 percent or MNT 80.8 billion over September, 2007.
Foreign currency deposits amounted to MNT 474.9 billion, an increase of 5.2 percent or MNT 23.4 billion over August, and of 35.4 percent or MNT124.3 billion over September, 2007.
The amount of loans outstanding at the end of September, 2008 climbed to MNT 2,716.9 billion, an increase of 46.1 percent. Individual and private sector outstanding loans increased by 49.7 percent and 47.6 percent respectively, while those in the public sector decreased by 18.7 percent. Principal amounts in arrears increased by 9.3 percent and substandard and doubtful loans increased by 8.8 percent. Nonperforming loans, at MNT 75.1 billion, were 2.8 percent of the total loans outstanding and decreased by 0.9 percent against August, 2007.
Compared to September 2007, the nominal rate of the tugrug against the US dollar at the end of this September was stronger by 3.2 percent, against the Euro by 1.8 percent, but weaker by 6.2 percent against the Yuan.

 

Source: en.news.mn