DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report

Treasury Management Division 3/24/2017

News Highlights Mongolian Economic Main Indicators

Mongolia Indicators Unit 2016.02 2017.02 Year/chg %
BoM holds FX auction (mongolbank.mn/eng) Money Supply (M2) bln.MNT 10,011.00 12,260.70 22%
Spot trade: Commercial banks bid weighted average rate of MNT2460.70 Inflation /Year to date/ % 1.20% 2.10% 75.0%
for USD22.2 million, asked weighted average rate of MNT2459.55 for Equilibrated overall balance of budget bln.MNT (258.50) (211.70) -18%
USD7.5 million and bid weighted average rate ofMNT354.67 for Trade balance mln.USD 261.20 334.20 27.9%
CNY58.0 million respectively. The BoM did not accept the bid offers. Export /accumulated/ mln.USD 613.30 825.30 35%
Swap and forward trade: The BoM received buying bid offers of USD3.5 Import /accumulated/ mln.USD 352.10 491.00 39%
million of MNT swap agreements from commercial banks and the BoM
did not accept the bid offers. Policy rates
Central Banks' interest rates Latest % Previous % Updated date
Premiers working visit in western aimags starts (montsame.mn) Policy rate of Mongolbank /BOM/ 14.00 15.00 12/19/2016
Ulaanbaatar /MONTSAME/ Working visit of Prime Minister J.Erdenebat PBC base interest rate (China) 4.35 4.60 10/24/2015
in western aimags started today, March 23 in Khovd city, Khovd aimag. FED - Federal Funds Rate 1.00 0.75 3/14/2017
He was welcomed by Governor of the aimag D.Galsandondog and other ECB - main refinancing rate 0.00 0.05 3/16/2016
officials with a ceremony by honorary guards at the central square. BOE official bank rate (England) 0.25 0.50 8/4/2016
Western regions center Khovd aimag has a population of 83500. One
feature of the aimag is that it has not used its mineral resources much; Bank of Mongolia - Interest corridor
only Khoshoot coal mine in Tsetseg soum operates in its full capacity and Indicators Latest % Previous % Updated date
2-3 small-scale gold mines operates there. Authorities of the aimag
Overnight repo 17.00 18.00 12/19/2016
expressed their interest to be involved in the Governments Gold-2
Overnight deposit 13.00 14.00 12/19/2016
project. The PM stated that as a result of this visit, he has made a decision
Repo 16.00 17.00 12/19/2016
to complete the 260 km road paving en route Bayankhongor and Gobi-
Altai within this year.
Satellite town to be built near new airport (montsame.mn) Money market interest rates
Ulaanbaatar /MONTSAME/ Yesterday, Speaker of the Parliament Indicators Rates % Daily chg % Yearly chg %
M.Enkhbold got acquainted with development process of a new airport in Libor USD 2M 1.0239 0.38 24.95
Khushigt Valley hondii valley in Sergelen soum of Tuv aimag. The Libor USD 3M 1.1568 0.05 15.92
construction work of the airport started on June 25, 2013 and is now fully Libor USD 6M 1.4313 -0.17 8.62
completed. However, some works have not been finished due to financial Libor EUR 2M -0.3686 0.00 -4.24
shortage to be provided by the Mongolian side. - This airport is our gate Libor EUR 3M -0.3557 0.00 -5.73
to abroad and face of the country. We should fulfill our duty, solving
financial issues for including construction of power station which should
Official exchange rates - BOM Cross rates
supply the airport with energy. Some parts of the finance have been
Official rates 3/24/17 9:11 Cross rates 3/24/17 9:11
already included in the state budget. Relevant ministry pays attention to
USD/MNT 2459.57 EUR/USD 1.0772
intensifying works he said. The speaker also noted that even though over
EUR/MNT 2654.98 GBP/USD 1.2503
30 buildings and facilities have been completed, the airport cannot start
GBP/MNT 3068.81 USD/CHF 0.9940
commissioning in scheduled time of 2017 as preparations for making
flights need to be satisfied. The airport will most likely start its operation CNY/MNT 357.08 USD/CNY 6.8863
and receive passengers in May of next year after completing installation JPY/MNT 22.11 USD/JPY 111.23
and testing of necessary facilities and equipment as well as some
furnishing works. Mongolian Bonds information
Sh.Byambatsogt talks about being TV announcer in Mongolia Bonds Currency Yield % Last price Daily chg%
(theubpost.mn) Mongol 2018 USD 4.14 100.00 0.019%
USA Mongol 2021 USD 6.47 115.38 -0.077%
Trump preparing orders to review trade deals, procurement: officials Mongol 2022 USD 6.34 94.27 0.019%
Claims for U.S. Jobless Benefits Increase to Seven-Week High Mongol 2024-Khuraldai bond USD 7.01 109.42 0.077%
Dollar on back foot after U.S. healthcare vote postponed Mongol 2018-Dim sum bond CNY 8.54 98.77 0.417%
Europe DBM-Samurai 2023 JPY 0.97 103.51 0.110%
BOE's Vlieghe says inflation doesn't mean rate increase -Times TDBM-2020 bond USD 6.89 107.43 0.085%
Why the French Election Will Decide Europes Future MMC bond USD 19,840.79 65.20 -0.185%
Russia Central Bank Meeting: long awaited key rate cut possible on Friday
North Asia Commodity Trading Prices
USDJPY falls on the news that healthcare vote might be moved to tomorrow Commodities Latest price Daily chg% Yearly chg%
Bank of Japan Governor Haruhiko Kuroda will speak at a Reuters in Tokyo on Friday Crude oil /WTI-New York/ $47.81 0.23 -11.00
Japan manufacturers mood at three-year high on export-led recovery: Reuters Tankan Gold Spot /ounce/ $1,244.06 -0.09 8.41
Commodity market Copper /LME/ $5,825.00 0.29 5.23
Oil could collapse into the $30s if OPEC doesn't keep its act together Iron ore /Beijing/ 590.00 0.00 31.11
Oil prices edged up on Friday, supported by a fall in Saudi exports to the United Coal /Tianjin/ 1,520.00 0.00 -13.64
States

Sources: bloomberg terminal, 1212.mn, bloombergtv.mn,

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DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 3/24/2017

Previous day's economic calendars Today's economic calendars

Event Period Forecast Actual Previous Event Time Period Estimated Previous

US Initial Jobless Claims 18-Mar 240k 258k 241k JN Leading Index CI 01:00 Jan F -- 105.50
US Continuing Claims 11-Mar 2040k 2000k 2030k JN Coincident Index 01:00 Jan F -- 114.90
RU Gold and Forex Reserve 17-Mar -- 395.7b 391.4b EC Markit Eurozone Manufacturing PMI
05:00 Mar P 55.30 55.40
US Bloomberg Consumer Comfort 19-Mar -- 51.30 51.00 EC Markit Eurozone Services PMI 05:00 Mar P 55.30 55.50
US New Home Sales Feb 564k 592k 555k EC Markit Eurozone Composite PMI05:00 Mar P 55.80 56.00
EC Consumer Confidence Mar A (5.90) (5.00) (6.20) US Durable Goods Orders 08:30 Feb P 1.30% 2.00%
JN Nikkei Japan PMI Mfg Mar P -- 52.60 53.30 US Markit US Manufacturing PMI 09:45 Mar P 54.80 54.20
US Markit US Services PMI 09:45 Mar P 54.00 53.80

Related information of Mongolian Bonds issued on international market (bloomberg)

Amount Price YTM Remaining
Issuer Coupon Issued Date Maturity Date
(mln USD) Bid Ask Bid Ask years (year)
Mongol 2018 500 4.125% 99.72 100.25 4.49 3.79 0.8 5-Jan-13 5-Jan-18
Mongol 2021 500 10.875% 114.96 115.81 6.58 6.36 4.0 6-Apr-16 6-Apr-21
Mongol 2022 1,000 5.125% 93.87 94.68 6.43 6.25 5.7 5-Dec-12 5-Dec-22
Mongol 2024-Khuraldai bond 600 8.750% 109.10 109.73 7.07 6.96 7.0 9-Mar-17 9-Mar-24
Mongol 2018 - Dim sum bond 1 billion CNY 7.500% 98.39 99.14 8.86 8.22 1.3 30-Jun-15 30-Jun-18
DBM - Samurai 2023 30 billion JPY 1.520% 103.35 103.67 0.99 0.94 6.8 16-Dec-13 25-Dec-23
TDBM - 2020 bond 500 9.375% 106.39 107.43 7.07 6.71 3.2 19-May-15 19-May-20
MMC 2017 600 8.875% 63.74 65.20 20477.68 19218.11 0.0 29-Mar-12 29-Mar-17

Last Prices of Mongolian Bonds issued on international market (Last 3 months)

Mongol 2018, Mongol 2022. Mongol 2024 - Last price DBM Samurai - Mid Line & Mid Yield to Maturity

Mongol 2018 Mongol 2022 Mongol 2024 (Khuraldai bond) Last Price (JPY) Mid YTM (%)
103 105.0 1.2%
100.005 118
100
104.5 1.1%
94.325 115 0.965%
97
112 104.0 1.0%
94
/Year to date/
91 109
103.5
/Year to date/ 0.9%
109.458 106
88
103.0 103.51 0.8%
85 103

82 100 102.5 0.7%

Sources: bloomberg terminal, 1212.mn, bloombergtv.mn,

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DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 3/24/2017

Bond Holders' Information /Top Holders/

Bond holders of Mongol 2018

Names Position % of position Latest change Fiing date Country
FMR LLC 35,900 7.18% 0.00 1/31/2017 United States
UBS 18,240 3.65% 7,000.00 11/30/2016 Switzerland
TCW GROUP INC 15,816 3.16% 0.00 2/28/2017 United States
PRUDENTIAL FINANCIAL INC 13,700 2.74% (2,000.00) 2/28/2017 United States
EATON VANCE CORP 9,668 1.93% 0.00 5/31/2016 United States
T ROWE PRICE GROUP INC 7,543 1.51% 0.00 3/31/2015 United States
LAZARD LTD 6,656 1.33% 6,616.00 12/31/2016 Bermuda
NORDEA BANK AB 6,095 1.22% (650.00) 1/31/2017 Sweden
SCHRODERS PLC 5,895 1.18% (435.00) 6/30/2016 United Kingdom
BLACKROCK 4,695 0.94% 0.00 11/30/2016 United States
AXA 4,400 0.88% 4,400.00 6/30/2016 France
PRUDENTIAL PLC 4,245 0.85% 500.00 11/30/2016 United Kingdom
HSBC 4,200 0.84% 0.00 11/30/2016 United Kingdom
SCHRODER INV MGMT TAIWAN LTD 3,785 0.76% 0.00 12/30/2016 Taiwan

Bond holders of Mongol 2022

Names Position % of position Latest change Fiing date Country
BLACKROCK 110,412 11.04% 6626.00 3/22/2017 United States
ALLIANCE BERNSTEIN 35,283 3.53% 1116.00 1/31/2017 United States
PRUDENTIAL FINANCIAL INC 30,120 3.01% 1105.00 1/31/2017 United States
GOLDMAN SACHS GROUP INC 28,474 2.85% 1715.00 1/31/2017 United States
FMR LLC 25,620 2.56% 200.00 1/31/2017 United States
GRANTHAM MAYO VAN OTTERLOO & CO 18,600 1.86% 0.00 5/31/2016 United States
FRANKLIN RESOURCES 18,500 1.85% (3000.00) 12/31/2016 United States
SCHRODERS PLC 17,800 1.78% (5310.00) 12/31/2016 United Kingdom
DANSKE BANK A/S 15,222 1.52% 0.00 2/28/2017 Denmark
UBS 10,791 1.08% 1790.00 2/28/2017 Switzerland
PRUDENTIAL PLC 10,500 1.05% 0.00 11/30/2016 United Kingdom
T ROWE PRICE GROUP INC 10,496 1.05% 0.00 3/31/2015 United States
LAZARD LTD 9,400 0.94% 3105.00 1/31/2017 Bermuda

Bond holders of Mongol 2024

Names Position % of position Latest change Fiing date Country
UBS 300 0.05% 0.00 3/20/2017 Switzerland

This presentation has been prepared solely for informational purposes only and its not to be construed as a solicitation or any offer to buy or sell securities, commodities,
or related financial instruments.

Contact us:ALTMD-TMD, Tel:+976-7585 7070/ext: 310/

Sources: bloomberg terminal, 1212.mn, bloombergtv.mn,

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