Mongolian currency weakens against USD, Yuan in first 3Qs

ULAN BATOR, Oct.15 (Xinhua) -- The exchange rate of the Mongolian national currency the Tugrik against the U.S. dollar weakened by 6.6 percent year-on-year in the first three quarters, official data showed Tuesday.

The dollar traded at 2,667.21 against the Tugrik at the end of the third quarter, according to the data from Mongolia's National Statistics Office (NSO).

The depreciation was mainly attributed to higher imports that led to the outflow of dollars, according to experts from the NSO.

The country's total imports stood at 4.6 billion dollars in the January-September period, up 5.7 percent from a year ago.

In addition, the exchange rate of the Tugrik against the Chinese currency renminbi, or the yuan, dropped by 2.8 percent in the first three quarters of this year from the same period last year. One yuan bought 374.10 Mongolian Tugriks at the end of September.