Savings of Mongolians reach 5.1 bln USD, up 18 pct year-on-year

Xinhua News Agency | Oct 21, 2019 at 12:00 PM

ULAN BATOR, Oct. 21 (Xinhua) -- The total savings of Mongolians reached 13.8 trillion Mongolian tugriks (5.1 billion U.S. dollars) at the end of August, a senior official of the Bank of Mongolia said Monday.

"The figure is up 18 percent from the same period last year," Byadran Lkhagvasuren, vice chairman of the Bank of Mongolia, said at a launching ceremony of a national campaign to increase awareness on the importance of savings and financial literacy.

During the two-week campaign, the central bank is expected to organize many related activities in cooperation with commercial banks.

Particularly, bank officials will give lectures across the country at organizations, companies and schools on how to save money and manage accounts properly.