ULAN BATOR, May 3 (Xinhua) -- Mongolia's foreign exchange (forex) reserves rose to 3.7 billion U.S. dollars at the end of April, Minister of Economy and Development Chimed Khurelbaatar said Wednesday.
"The Mongolian government repaid around 369 million U.S. dollars of Gerege Bond debt on April 28. After that, our country's forex reserves stood at 3.7 billion U.S. dollars," Khurelbaatar told media after a regular meeting of the government.
"We believe that the currency market has stabilized," he said.
The Asian country's forex reserves stood at 3.4 billion dollars at the end of 2022, according to the central bank. ■