The Bank of Mongolia held its regular foreign currency auction yesterday on June 19, 2012. Out of the initial request by commercial banks to buy USD, the Bank of Mongolia sold 77.3% or 60.3 million MNT at a closing rate of 1,333.01 MNT/1 USD, with the purpose of supplying short term demands. 

Also, at the CNY auction, commercial banks proposed requests to buy CNY, where the Bank of Mongolia sold 70.0 million CNY at a closing rate of 209.65 MNT/1 CNY, with the purpose of supplying short term demands. There were no proposed requests to sell CNY and USD.

The Bank of Mongolia holds foreign currency auctions every Tuesday and Thursday, where only banks, certified to run banking activities and that operates within the Mongolian territory, are allowed for participation.