According to Mongolian fuel importers, Rosneft, which is the largest Russian oil company, has increased fuel prices by USD 45-85 per tonne from October, 2018. In addition, the US Dollar which is being sold at MNT 2533, has increased since September. These two factors have led to price increases in Mongolia.

Mongolia is 100 percent depend on fuel imports. Currently, the country has fuel reserve for 37 days.

The Chinese economy has lost momentum this year following government efforts to try to rein in high levels of debt. It's also coming under pressure from US tariffs on more than $250 billion of Chinese exports.
China's central bank said Sunday that it would move to free up 750 billion yuan ($109 billion) for new lending in an attempt to prop up growth. It's the fourth time this year it has cut the amount of money banks are required to keep in reserve, but analysts say the problems run deeper.
The latest move is "far from enough to turn the economy around" because banks may still be reluctant to lend, said Larry Hu, an economist at investment bank Macquarie. He wrote in a note to clients Monday that the central bank will be forced to act again in the next few months.
China and the United States have imposed tariffs on hundreds of billions of dollars of each other's products.
China and the United States have imposed tariffs on hundreds of billions of dollars of each other's products.
Chinese officials have already turned to tax cuts, infrastructure spending and looser monetary policy as they seek to spur more economic activity.
"The economy clearly needs the support," Wei Yao, a China economist at investment bank Societe Generale, said in a note to clients Monday. She predicted a further slowdown in the coming quarters.
Beijing's latest move to loosen monetary policy also risks further weakening China's currency, which is down almost 6% against the dollar this year.
The yuan "will surely face more depreciation pressure after the cut," Hu said. The Chinese currency slipped 0.4% versus the dollar on Monday.
JPMorgan CEO: A trade war could reverse growth 01:23
The People's Bank of China is moving in the opposite direction from the US Federal Reserve, which last month raised interest rates for the third time this year. That makes it increasingly appealing for investors to hold assets in dollars rather than the yuan.
China's stock markets have also been pummeled in recent months by fears about the health of the country's economy and the intensifying trade war.
The benchmark Shanghai Composite Index dropped more than 3% on Monday after being closed all last week for a lengthy public holiday.

During the talks, the sides are discussing about grants and soft-loan to be rendered by the Government of Federal Republic of Germany to Mongolia in the coming three years. Within the cooperation, the Federal Republic of Germany prioritizes protection of biodiversity, improvement of energy efficiency and minerals management, implementing several projects and programs.

The talks are being co-chaired by State Secretary of Ministry of Finance S.Narantsogt from Mongolian side and Ambassador Extraordinary and Plenipotentiary of Germany to Mongolia Stefan Duppel and corresponding officials are attending the talks.

Sooronbay Jeenbekov thanked the guest for participating in the International Issyk-Kul Forum "Chyngyz Aitmatov and Challenges of Modernity".

“Your participation and participation of many foreign guests in the Forum on the occasion of the 90th anniversary of Chyngyz Aitmatov - an outstanding contemporary humanist-writer, statesman and public figure once again underlines the relevance of the issues raised in the modern world,” the country leader emphasized.

The ex-President of Mongolia noted the importance of this event for bringing the peoples of the world closer together and addressing the pressing challenges of our time, thanked Sooronbay Jeenbekov for organizing a high-level forum.

“I considered it my duty to take part in this forum, as Chyngyz Aitmatov is an outstanding son of not only the Kyrgyz people, but also the pride of all nomadic peoples of the world,” ex-President of Mongolia Nambaryn Enkhbayar said.

Kazakhstan is one of main tobacco and oilseed rape exporters to Mongolia, having supplied for their products for more than $25 million in 2017. Mongolian companies are interested in import of agricultural products, confectionery and construction materials from Kazakhstan. The sides reached such agreements during visit of the the Trade mission of Kazakhstan to Ulaanbaatar on October 4.

The Trade Mission was organized by the Ministry of Investments and Development of Kazakhstan, Embassy of Kazakhstan to Mongolia, Chamber of Foreign Trade of Kazakhstan, National Chamber of Commerce and Industry of Mongolia.

The delegation of Kazakhstan consisted of representatives of food and construction companies. More than 40 Mongolian companies participated in the talks.

Bilateral trade in 2017 made $74.8 million, including $72.5 million exports of Kazakhstan to Mongolia.

The Bank of Mongolia set the rate to 2,567 tugriks per dollar on Monday morning and private banks set the rate to 2,574 tugriks per dollar.

The U.S. dollar exchange rate against the tugrik has reached a historical high in the past few days, with the exchange rate standing at more than 2550.

"This rise of the U.S. dollar exchange rate is directly related to a 40 percent increase in imports in the first three quarters of this year compared to the same period last year," Batjin Narantsogt, a senior economist at the Bank of Mongolia, told local media on Monday.

"The Bank of Mongolia has the obligation to manage foreign currency reserves. The central bank has supplied about 500 million U.S. dollars to private banks since June," Batjin said.

The foreign exchange reserves in Mongolia decreased to 2.9 billion dollars at the end of last week from 3.26 billion dollars in May, which marked the highest since June 2013, according to the central bank.

"The situation of rural-to-urban migration in Mongolia has been intensifying due to climate-related natural disasters," he said, and the consequent problems of rapid urbanization pose "significant risks to our country, especially the capital of Ulan Bator."

"Particularly, the air and soil pollution in the capital of Ulan Bator is expected to worsen. So, we need to pay more attention to improving living conditions and increasing employment in other cities and rural areas in order to mitigate the overconcentration of population in the capital region," he said.

The average temperature now in Mongolia is up 2.10 degrees Celsius from 1940, more than doubling the rise in average global temperature, according to the United Nations Environment Programme.

The climate change is increasing the risk of natural disasters, including droughts and the extreme winter weather known as "dzud" in Mongolia.

Nearly 600,000 herders who lost their livestock during the dzuds have migrated to Ulan Bator over the past three decades, showed official data.

Mongolia has a population of 3.2 million, of which 66 percent live in urban areas, Khurelsukh said.

As of the end of 2017, Ulan Bator hosted 46 percent of Mongolia's population.

The Government submitted the Bill on State Budget to Parliament and the budget revenue is calculated to be MNT 9 trillion and 676.5 billion or 27.4 percent of the GDP and the expenditure as MNT 11 trillion 589.8 billion or 32.8 percent with a deficit of MNT 1 trillion 913.3 billion or 5.4 percent of the GDP.

In connection with the discussing issue, MP Kh.Bolorchuluun noted “The Government maintained the budgetary discipline well this year, which positively affected the economic growth. Thus the budget had not amends. The account for exporting 42 million tons of coal next year seems to be too optimistic. Is it right time to privatize the National Cancer Center. With the increasing number of cancer incidences, the State should keep the specified hospital and provide support.”

Clarifying the situation Minister of Finance Ch.Khurelbaatar said “It was expected to export 28 million tons of coal in 2018. At that time the ports were overloaded. However, since the Prime Minister’s visit to China the port problems were resolved and the coal transportation became faster. The National Cancer Center will still receive the money from the state budget, but the hospital will manage the expenditure.”

In the recent years, MNT 650 billion has been deposited in the SME Development Fund. The Finance Minister said that small and medium sized entrepreneurs would be able to intensify their operations with this money. Also, no budget is planned for establishment of a new plant or factory in 2019.

MP B.Delgersaikhan asked about the opening of the Zamyn-Uud free zone. Deputy Prime Minister U.Enkhtuvshin clarified that the opening is planned next year and MNT 1 billion will be invested from the state budget.

Answering MP L.Bold’s question on the construction of schools and kindergartens, Finance Minister said that the Government plans to build 117 schools, 143 kindergartens and 57 dormitories, construction of 46 schools, 57 kindergartens and 24 dormitories will start in 2019.

On the possibility to increase the budget for maintenance of newly-built roads, Minister Ch.Khurelbaatar said “MNT 30 billion has been budgeted for the road maintenance. However, some roads need to be turned into tolls. There is no way to build a road with a loan and repair it with the state budget. Therefore, the maintenance should be made with the revenue from tolls.”

The discussion on the state budget will continue on October 5.

Russia is one of India’s key partners in nuclear energy. Russia built the single largest nuclear power station in India, Kudankulam NPP, which was first agreed back in 1988 with the Soviet leadership. The construction began in 2002, and the NPP was launched in 2013. Since then, the plant has been expanded, and Russia is building units 3 and 4 at the plant with plans to build units 5 and 6 in the next two years.

“We are satisfied with our strategic cooperation with India, where the Russian designed nuclear power units are operating and being constructed at Kudankulam site. We expect to start implementation in the near future serial construction of new units at a second site in India,” Rosatom’s Likhachev said.

President Putin said during his meeting with Indian Prime Minister Narendra Modi on Friday that the countries could expand their energy cooperation to other spheres. “We are ready to consider the possibility of cooperation in the framework of such programs as Far East LNG, Arctic LNG-2, as well as other projects for the development of natural resources of Siberia, Yamal and the continental shelf in the Russian Federation,” Putin told Modi.

The Russian president also announced that the countries have plans to boost trade to $30 billion by 2025, which is triple the current level.