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Weak Currency and its implications, September 2013

MNT has been sold heavily recently. Even compared with two months ago, it has dropped about 20% versus USD. At this article, we explain the reasons behind the sell off and try to explain how the downtrend may stop through pointing out followings issues:

  1. Friendly policy outlook
  2. Better than expected GDP in 1H 2013 and its implications
  3. The selling pressure of MNT continues. Why?
  4. Weak Trade,FDI and BOP
  5. Fragile banking system
  6. Prolonged resolution of OT underground development
  7. Weaker economic prospects in 2014
  8. The options that BOM can take.
  9. Conclusion

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