“What is the tugrik?”

5 Dec

“It is the best performing currency against the US dollar in the world in 2010.  The Mongolian currency has bested all others so far, rising 16.7% against the dollar.  why?  It is an exotic manifestation of a simple trend: currencies of countries with strong exports to China have soared.  Mongolia is rich in copper, gold, coal, iron and other mineral deposits.  At least two-thirds of its exports go to feed neighboring China’s industrial machine”  Wall Street journal Sat/Sun Dec 4-5, 2010, p B18.

 

Found by Jay this evening in the paper.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: