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