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Mongolia’s forex reserves rise to 3.4 bln USD

ULAN BATOR, Jan. 4 (Xinhua) — Mongolia’s foreign exchange (forex) reserves rose to 3.4 billion U.S. dollars at the end of 2022, Minister of Economy and Development Chimed Khurelbaatar said Wednesday.

“As of Dec. 31, Mongolia’s forex reserves reached 3.4 billion dollars. Therefore, our country was able to avoid a big risk of entering into a program with the International Monetary Fund and declaring default,” Khu