ULAN BATOR, April 30 (Xinhua) -- Mongolia's foreign exchange reserves have so far reached 5.25 billion U.S. dollars, the country's central bank said Tuesday.

"The amount is adequate to cover imports for at least seven months. Foreign exchange inflows are expected to further remain good, so the exchange rate of Mongolia's national currency, the Tugrik, against foreign currencies is likely to remain stable throughout the year," the Bank of Mongolia said in a statement.

In March, the Asian country's foreign exchange reserves exceeded 5 billion dollars for the first time.

Due to the deepening of a current account deficit caused by external and internal economic conditions, Mongolia's forex reserves had shrunk to 2.6 billion dollars in August 2022, hitting the lowest level since 2017. Enditem

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