Regulatory Alerts2013-06-05
Regulation on calculating and announcing exchange rate of MNT against other currencies
The Bank of Mongolia issued this regulation to establish methods for calculating and announcing the closing exchange rate of the Mongolian Tugrik against foreign currencies. It mandates commercial banks to submit detailed USD and CNY transaction reports to the Bank's International Economics Department by 4:40 pm daily. The Bank of Mongolia supervises compliance and enforces penalties for inaccuracies or late submissions, while allowing alternative reporting methods during system failures.
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