“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.

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