Mongol Bank launches campaign to combat high gas prices
Mongol Bank has launched a public awareness campaign in an effort to fight rising gasoline prices and currency rates.
Bank official J.Bataa told our correspondent that petroleum importers are being encouraged to negotiate currency exchanges with commercial banks to purchase fuel. He says that would keep gas prices from rising when the tugrik rate falls against the U.S. dollar. But some importers and commercial banks say the cost of such transactions is prohibitive.
J.Bataa said Mongol Bank is also advising commercial banks to inform customers about ways to protect themselves from fluctuating currency rates.
He added that Mongol Bank cooperates with Khaan, Golomt, Trade and Development, Saving, Khas, State, and Ulaanbaatar City banks to disseminate helpful information.
Bank official J.Bataa told our correspondent that petroleum importers are being encouraged to negotiate currency exchanges with commercial banks to purchase fuel. He says that would keep gas prices from rising when the tugrik rate falls against the U.S. dollar. But some importers and commercial banks say the cost of such transactions is prohibitive.
J.Bataa said Mongol Bank is also advising commercial banks to inform customers about ways to protect themselves from fluctuating currency rates.
He added that Mongol Bank cooperates with Khaan, Golomt, Trade and Development, Saving, Khas, State, and Ulaanbaatar City banks to disseminate helpful information.
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