ArdNews

📉 Mongolian Tugrug Weakens to Historic Low Against the Chinese Yuan 💴

June 16, 2026

In partnership with

🇲🇳 The Mongolian tugrug has depreciated to a record low against the Chinese yuan, while broad money supply and foreign currency deposits continue to rise, highlighting key developments in Mongolia’s macroeconomic environment.

  • 📉 The official exchange rate reached MNT 529.18 per yuan, marking a new historical low for the tugrug and surpassing the previous peak recorded in 2023. The depreciation comes amid growing trade flows between Mongolia and China and increasing use of the yuan in cross-border transactions.

  • 🤝 The currency swap agreement between the Bank of Mongolia and the People’s Bank of China remains in effect, with an outstanding balance of CNY 6 billion. Authorities have indicated that there are currently no plans to expand the size of the swap facility.

  • 💰 Meanwhile, preliminary data for May 2026 show that broad money supply (M2) reached MNT 52 trillion, an increase of MNT 11.2 trillion year-over-year. The expansion was primarily driven by growth in MNT deposits (+MNT 5.9 trillion), foreign currency deposits (+MNT 2.1 trillion), and MNT current accounts (+MNT 2.9 trillion).

🏦 Foreign currency deposits rose to MNT 5.5 trillion, reflecting continued demand among households and businesses to hold assets denominated in foreign currencies.

🌏 Bilateral trade between Mongolia and China is projected to reach USD 20 billion this year, further strengthening economic ties and increasing the role of the yuan within Mongolia’s economic and financial system.

💡 Ard Insight

The tugrug’s depreciation against the yuan reflects growing trade activity and foreign currency demand, but it may also increase import-related inflationary pressures. At the same time, the continued expansion of money supply and foreign currency deposits points to stronger liquidity and economic activity, while underscoring the need to closely monitor inflation and exchange rate stability. 📊🇲🇳

Mongolia’s economy, stock market, politics, and mining news delivered first on ArdNews Brief in 5 minutes

No theory. No slides. Just pipeline.

Most founders know their product. Few know how to get it in front of the right people. In this hands-on session, Clay + HubSpot for Startups walk you through ICP definition, prospect list enrichment, and AI-personalized outreach. You launch your first sequence before the session ends. June 18. 11am ET / 4pm GMT.