Tag: basic goods

Inflation hits home for Mongolians struggling for basic goods

ULAANBAATAR, Mongolia (AFP) – At Ulaanbaatar’s Naiman Sharga money exchange market, elderly women stand in the street waving wads of money at passers-by, encouraging them to change foreign currency to Mongolian tugriks. Each transaction nets them a small profit — but when the value of the tugrik fluctuates it makes that more difficult, and lately the currency has taken a dive. This year the currency has fallen almost 15 percent against the US dollar — […]