- Home
- Statistics
- Exchange Rates
Back
Exchange Rates
Note:
The BOM has been announcing “THE CLOSING EXCHANGE RATE OF THE DAY ” since December 7, 2010, and this rate is considered an exchange rate announced by the BOM for the following day. It should be understood that the aforementioned rate is the BOM announced rate defined in the item 9.3 of the article 9 of the Accounting law of Mongolia.
For example, financial statements prepared on December 31, 2010 should use the closing rate announced by the BOM on December 30, 2010 in reporting the remaining receivables and payables. Financial statements prepared on January 3, 2011 should use the closing rate announced by the BOM on December 31, 2010.
According to the law, the aforementioned exchange rate announced by the BOM shall be used for calculations of “FINANCIAL STATEMENTS, CUSTOMS AND COURTS”. It shall not be understood as any signal for the exchange rate trend or any intention for trading rate.