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Continuing with our series of 25 years in 25 days, today we look at 1999. Mongolia’s economy grew by just over 3%, and inflation checked in at the relatively modest rate of 7.6%. In 1991, under the old regime, the official exchange rate was 7 togrogs per US$. As the end of the decade approached, the exchange rate on the Mongolian togrog passed 1,000 per US$. Protests against globalization erupted in Seattle, while firms in Mongolia were looking for ways to enter the global markets.
Clik here to view.
Continuing with our series of 25 years in 25 days, today we look at 1999. Mongolia’s economy grew by just over 3%, and inflation checked in at the relatively modest rate of 7.6%. In 1991, under the old regime, the official exchange rate was 7 togrogs per US$. As the end of the decade approached, the exchange rate on the Mongolian togrog passed 1,000 per US$. Protests against globalization erupted in Seattle, while firms in Mongolia were looking for ways to enter the global markets.
