Tugrik 22-Day Slump to Record Low Marks Crisis: ChartBy
Mongolia’s tugrik is in its longest losing streak on record with the economy in the grips of a crisis so severe that the newly elected government run by the Mongolian People’s Party felt obliged to tell the nation last week that they may not be able to pay salaries to soldiers and public health staff. Falling commodity prices -- key export copper has recovered little since touching a seven-year low in January -- have made the country of 3.1 million vulnerable. The International Monetary Fund flew in this week for talks as a slowdown in China and anti-investment laws passed by the former government scared away foreign investors.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Comedian Byron Allen Buys the Weather Channel for $300 Million
- Stocks Tumble in Biggest Weekly Decline Since 2016: Markets Wrap
- Musk Takes Down the Tesla and SpaceX Facebook Pages
- Stocks Drop Most in Six Weeks on Trade War Tension: Markets Wrap
- World's Biggest Cryptocurrency Exchange Is Heading to Malta