Some banks are not dealing with USD
- By Amarjargal Munkhbat -
- Feb 10,2023
Some people reported that banks are not trading USD, and limits on spending from currency accounts have been set on accounts of citizens and enterprises. In clarifying this, the Trade and Development Bank mentioned that they are not trading in USD in all branches. Also, the service worker said that the maximum spending limit for the currency account is 50 million MNT, and the number of USD to be withdrawn must be declared one day in advance. However, Khan Bank and Golomt Bank did not limit the trading of MNT into USD. In addition, they said, when receiving USD equivalent to more than 50 million MNT, it must be reported one day in advance. A currency dealer said that as of Wednesday, there was no shortage of USD at the “Naiman Sharga” currency trading market, and it was trading normally. Moreover, from the beginning of 2023 until the 7th of this month, the Mongol Bank supplied 325 million USD in foreign currency auctions. Foreign currency reserves were 3.55 billion USD as of last month, which is a 9.7 percent decrease from the same period in 2022.