17-Dec-14

Source: Bloomberg compounded midpoint rate

Contact us: Golomt Bank Treasury Division, Ulaanbaatar-210620A, Mongolia; Tel:+976-70127676, Facsimile: +976-11-311958

Policy Rate Last Prior Last Change date

BoM Policy rate 12.00 10.50 07/31/2014

China Target rate 5.60 6.00 11/24/2012

U.S Fund rate 0.25 1.00 12/16/2008

Euro Refinance rate 0.05 0.15 09/04/2014

U.K Official rate 0.50 1.00 05/03/2009

Japan Target rate 0.10 0.30 12/19/2008

Bank of Mongolia Rate Last Prior Last Change date

Overnight repo 14.00 12.50 07/31/2014

Overnight deposit 10.00 8.50 08/01/2014

Repo 12.50 11.00 08/02/2014

Money Market Rates Indicator

Last 1d% chg YTD% chg

LIBOR USD 3M 0.2426 0.00 -1.42

LIBOR EUR 3M 0.0607 -1.17 -77.15

LIBOR GBP 3M 0.5590 -0.22 6.41

LIBOR JPY 3M 0.1093 -1.28 -26.09

SHIBOR CNY 3M 5.50 - -9.54

UBIBOR 3 month 12.50 0.00 -

Stock Indices

Mongolia Related Companies’ Securities

Stocks Crncy Volume

ths. USD Close

1D % Chg

YTD % Chg

MMC HKD 22186.5 0.39 6.94 -45.03

SGS HKD 116.6 3.68 -3.66 -46.51

TRQ USD 2004.0 2.80 -0.36 -15.15

Bonds Crncy Yields Mid price Day

change DB Bond USD 7.58 96.25 -

MMC Bond USD 29.46 67.50 -

TDBM 2015 USD 8.64 99.88 -

TDBM 2017 CNY 11.20 97.78 -0.00

Mongol 2018 USD 6.52 93.49 -0.20

Mongol 2022 USD 7.23 87.43 -0.74

Samurai 2023 JPY 1.03 104.03 0.00

Commodity Prices

Indicator Last 1D % Chg YTD % Chg

Crude oil 55.35 -1.04 -43.76

Gold 1,198.62 0.07 -0.53

Copper 6,409.50 -0.59 -13.10

IronOre/Beijing/ 505.00 0.00 -35.67

Coal/Tianjinl/ 860.00 0.00 -26.50

Highlights U.S

FedEx to Buy Product-Return Firm Genco in E-Commerce Push Real Estate Recovery in U.S. Uneven as Housing Starts Fall Big Banks Return to Pre-Crisis Lending Standards, Regulator Says

Europe Euro Lures Carry Trade Kudos in Worst Year Since ’05: Currencies Russia Seen Wielding $70 Billion Interventions in Ruble Showdown ECB’s Weidmann Rejects Sovereign QE With No Deflation Seen

Asia Yen Retreats From Four-Week High Before Fed; N.Z. Dollar Slides BOJ Seen Keeping Stimulus Beyond Kuroda’s Term Ending in 2018 Asian Stocks Rally With U.S. Futures Before Fed While Oil Slips

Commodity

WTI Crude Opens 60 Cents Lower at $55.33 a Barrel in New York Gold Futures Cap Longest Slump in Five Weeks on Fed, Russia Woes Copper Holds Losses Before China Industrial Production Data

Foreign Exchange Market

17-Dec-14 9:04 16-Dec-14 0:00 1D % Chg YTD % Chg

EUR/USD 1.2508 1.2509 -0.0080 -9.2900

GBP/USD 1.5742 1.5754 -0.0762 -4.9740

USD/CHF 1.0415 1.0417 0.0192 7.9117

USD/CNY 6.1879 6.1902 0.0372 -2.1445

USD/JPY 116.90 117.2900 0.3336 -9.9572

Mongolian Economic Indicators YTD Indicators unit Oct.2013 Oct.2014

Change YoY %

Money supply ( M2 ) bln.MNT 8715.9 9980.3 14.5%

CPI index YoY Chg Percent 9.7 9.3 -4.1%

Expenditure of Government Budget bln.MNT 3539 4122.6 16.5%

Government Budget Balance bln.MNT -183 -278.5 -52.2%

Imports mln.USD 5341 4474.3 -16.2%

External trade Balance mln.USD -1860.8 131.4 -107.1%

-7.37

-4.15

22.13

-4.73

-1.16

-1.13

2.77

-5.10

-3.36

-2.64

-3.28

-1.38

0.00

2.31

-1.55

0.13

2.25

2.46

2.41

-0.85

-1.24

-0.65

-10-8-6-4-2 0 2 4 6 8 1012141618202224

Commodity - 108.26

Top20-MSE - 14,616.43

Shanghai - 3,021.52

Hang Seng - 22,670.50

Nikkei 225 - 16,838.78

Stoxx 50 - 3,049.99

DAX - 9,563.89

FTSE 100 - 6,331.83

S&P 500 - 1,972.74

NASDAQ - 4,547.83

Dow Jones - 17,068.87

INDICATOR - LAST 1D % Chg 1M % Chg

-1%

0%

1%

2%

3%

4%

5%

1800

1810

1820

1830

1840

1850

1860

1870

1880

1890

1900

30-S

ep

7-O

ct

14-O

ct

21-O

ct

28-O

ct

4-N

ov

11-N

ov

18-N

ov

25-N

ov

2-D

ec

9-D

ec

16-D

ec

1 day change

Exchange rate

USD/MNT BoM rate last 3months

(200.0)

(150.0)

(100.0)

(50.0)

0.0

50.0

100.0

9/1

6/2

014

9/1

8/2

014

9/23

/201

4

9/2

6/2

014

9/3

0/2

014

10/

2/2

014

10/

7/2

014

10/

9/2

014

10

/14

/201

4

10

/28

/201

4

11/

4/2

014

11/

6/2

014

11

/11

/201

4

11

/13

/201

4

11

/19

/201

4

11

/25

/201

4

12/

2/2

014

16

/19

/201

4

Mill

ion

s

Central bank USD swap auction

Buy order from banks

BoM sold USD

Sell order from banks

Bom bought

BOM

sold USD BOM bought USD

BOM

sold USD BOM bought USD

BOM

sold USD BOM bought USD

BOM

sold USD BOM bought USD

BOM

sold USD BOM bought USD

BOM

sold USD BOM bought USD

BOM

sold USD BOM bought USD

Source: Bloomberg compounded midpoint rate

Contact us: Golomt Bank Treasury Division, Ulaanbaatar-210620A, Mongolia; Tel:+976-70127676, Facsimile: +976-11-311958

2 17-Dec-14 MORNING REPORT Treasury Division

Gov.Bill auction calendar

Government bill type

Announcement date

Trading date

Settlement date

Amount

12 weeks 11/07/2014 11/12/2014 11/17/2014 40 Billion

28 weeks 11/14/2014 11/19/2014 11/24/2014 40 Billion

5 years 11/14/2014 11/19/2014 11/24/2014 10 Billion

12 weeks 11/21/2014 11/26/2014 12/01/2014 30 Billion

52 weeks 11/28/2014 12/03/2014 12/08/2014 30 Billion

3 years 11/28/2014 12/03/2014 12/08/2014 10 Billion

12 weeks 12/05/2014 12/10/2014 12/15/2014 50 Billion

28 weeks 12/12/2014 12/17/2014 12/22/2014 60 Billion

5 years 12/12/2014 12/17/2014 12/22/2014 10 Billion

12 weeks 12/19/2014 12/24/2014 12/29/2014 50 Billion

Economic events Event Survey Actual Prior

US Total Net TIC Flows Oct -- $178.4B -$55.6B

JN Markit/JMMA Japan

Manufacturing PMI Dec P -- 52.10 52.00

FR Markit France Manufacturing PMI

Dec P

48.60 47.90 48.40

GE Markit/BME Germany Manufacturing PMI

Dec P

50.30 51.20 49.50

EC Markit Eurozone Manufacturing PMI

Dec P

50.50 50.80 50.10

UK CPI YoY Nov 1.2% 1.0% 1.3%

GE ZEW Survey Current

Situation Dec 5.00 10.00 3.30

GE ZEW Survey Expectations Dec 20.00 34.90 11.50

US Housing Starts MoM Nov 3.1% -1.6% -2.8%

US Building Permits Nov 1065K 1035K 1080K

US Markit US Manufacturing PMI Dec P

55.20 53.70 54.80

Economic events calendar Time Event Survey Prior

7:50 JN Trade Balance Nov -¥992.0B -¥710.0B

14:00 JN Machine Tool Orders YoY Nov F -- 36.6%

17:30 UK Claimant Count Rate Nov 2.7% 2.8%

17:30 UK Jobless Claims Change Nov -20.0K -20.4K

17:30 UK ILO Unemployment Rate

3Mths Oct 5.9% 6.0%

18:00 EC CPI MoM Nov -- -0.2%

18:00 EC CPI YoY Nov F 0.3% 0.3%

18:00 EC CPI Core YoY Nov F 0.7% 0.7%

20:00 US MBA Mortgage Applications 12-Dec -- 7.3%

21:30 US CPI YoY Nov 1.4% 1.7%

21:30 US CPI Ex Food and Energy

YoY Nov 1.8% 1.8%

21:30 US Current Account Balance 3Q -$97.5B -$98.5B

Disclaimer:

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at based upon information obtained from sources believed to be reliable and in good faith. Such information has not been independently verified and no

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0

40,000

80,000

120,000

160,000

200,000

9.00%

10.00%

11.00%

12.00%

13.00%

14.00%

15.00%

16.00%

17.00%

Mill

ion

s

Government bond auction

Total demand Government sold Min rate

Weighted average rate Max rate