togrog

ULAN BATOR, Mongolia—Surging inflation and interest in trading the nation's currency, the togrog, are key challenges facing the Bank of Mongolia, a top central banker said Thursday.

Mongolia's Challenges: Inflation, Currency Flows James T. Areddy 2011

The stock market has soared over much of the past year, property investors are in a frenzy and the central bank is battling upward pressure on the currency, the togrog, as foreign investors rush in.

Mining Boom Fuels New Mongol Hoard James T. Areddy 2011

The solution to these issues might come in the form of firms such as Netherlands-based TCX, a government-backed fund that holds massive amounts of exotic currencies such as the togrog and converts them to major currencies so that lenders don't have to bear the exchange risk of doing it on their own.

Microfinance Lenders Seek Ways to Hedge Forex Risks Chana Schoenberger 2011

The togrog was among the world's strongest currencies in 2010, gaining as the economy rebounded from the global financial crisis and amid expectations copper and coal mining will sustain the trend.

Mongolia's Challenges: Inflation, Currency Flows James T. Areddy 2011

The stock market has soared over much of the past year, property investors are in a frenzy and the central bank is battling upward pressure on the currency, the togrog, as foreign investors rush in.

Mining Boom Fuels New Mongol Hoard James T. Areddy 2011

This leaves Xac Bank exposed to the risk of the togrog devaluing and borrowers having no way to fully repay their loans.

Microfinance Lenders Seek Ways to Hedge Forex Risks Chana Schoenberger 2011

It was a minor currency, however, that was the world's best-performing: Mining-rich Mongolia's togrog finished the year 15% higher against the dollar.

Hot Money Roils Growth Currencies Alex Frangos 2011

But what happens when they try dealing with the Mongolian togrog?

Microfinance Lenders Seek Ways to Hedge Forex Risks Chana Schoenberger 2011

As the profile of the togrog rises with traders, he said, the policy is "don't fight the trend," but ensure it happens smoothly.

Mongolia's Challenges: Inflation, Currency Flows James T. Areddy 2011

By last June, the price for cashmere in Mongolia had fallen by more than 33% from a year earlier, hitting about 28,000 togrog, or $19, a kilogram.

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