Source Pravda.Ru

Mongolian National Currency Gaining Former Strength

From now on the Mongolian government structures will carry out all financial operations in national currency. Such a decision was made by the Ministry of Finance and Economy of Mongolia in compliance with the governmental resolution. All currency accounts of budget-dependent organisations with commercial banks have been closed and transferred to the Mongolbank, the central bank of the country, the Ministry of Finance and Economy informed RIA Novosti Wednesday. The ministry noted that this was caused by the need to bring the spending of state currency funds into order and to centralise monetary flows in a single banking structure. Control will be toughened over spending made by budget-dependent organisations, which used to have several settlement accounts with various banks and could freely dispose of government funds.

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