Mongolian Economy and Finance

Trans. by B.DULGUUN

SHANGHAI, Aug 25 (Reuters) - Mongolia and China agreed a three-year bilateral currency swap arrangement for 15 billion yuan ($2.44 billion), in a deal signed last week during a visit by China's president Xi Jinping.

The market rose over the past five sessions despite a stronger dollar putting pressure on exporters, while Australia's largest trading partner China struggles to reform its credit market and rebalance its economy without putting the brakes on growth.

After Syria and Iran, Mongolia is delivering the world’s worst currency returns this quarter as tumbling international investment and coal revenue starve the country of the foreign exchange needed to fund imports.

If you need to transfer money to Mongolia from the UK or any other country worldwide, Exchange Rates UK provides you with the latest Mongolian Tugrik exchange rate comparison.

As the holidays continue, naadams attended by our government officials were taking place everywhere in the countryside, the U.S. dollar rate against the Mongolian tugrug went through the roof and the people have already started to feel the effect.

The chief of the Currency and Value Department of the Central Bank of Mongolia, D.Ganbat, was interviewed about the disclosure of fake Yuan being circulated in Mongolia.

LONDON, UNITED KINGDOM — According to the UK Treasury, banks across the world are taking steps to allow the Chinese Yuan to be traded across offshore markets as the ruling party took proactive steps to relax its grip on the currency's value, reports currency exchange experts, Currencies Direct.

Fantasia Holdings Group Co. (1777) is marketing dollar-denominated bonds while South Korea’s Doosan Infracore Co. (042670) and Mongolia’s XacBank consider sales after yield premiums on notes from Asia dropped to a 15-month low.

HONG KONG, July 23 (IFR) - Asian credit spreads blew out on Monday as prices were marked wider on eurozone-related jitters amid thin volumes.

The yuan completed its first quarterly decline since December 2009 after Premier Wen Jiabao set the annual growth target at the lowest level in seven years.