Mongolia's forex reserves hit all-time high in 2019

ULAN BATOR, Jan. 2 (Xinhua) -- Mongolia's foreign exchange (forex) reserves hit an all-time high in 2019, the country's central bank said Thursday.

"In 2019, the Bank of Mongolia has successfully implemented measures to ensure economic stability. As a result, our country's forex reserves exceeded 4.2 billion U.S. dollars at the end of the year, hitting an all-time high," said Byadran Lkhagvasuren, governor of the central bank, in his New Year speech.

The mineral-rich Asian country's forex reserves at the end of 2019 grew almost 20 percent from 3.5 billion dollars at the end of 2018, according to the central bank.