DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report

Treasury Management Division 4/21/2017

News Highlights Mongolian Economic Main Indicators

Mongolia Indicators Unit 2016.03 2017.03 Year/chg %
MONTHLY ECONOMIC REVIEW (gogo.mn) Money Supply (M2) bln.MNT 10,112.40 12,177.70 20%
Speaker of the State Great Khural M.Enkhbold paid an official visit to Inflation /Year to date/ % 1.20% 2.10% 75.0%
Japan on Mar 28-30th, 2017. During the visit, he met with Japanese Prime Equilibrated overall bal of budget bln.MNT (615.70) (255.10) -59%
Minister Shinzo Abe. Meanwhile, Shinzo Abe announced to grant a US$ Trade balance mln.USD 359.90 523.70 45.5%
850 million soft loan to Mongolia, in scope of IMF`s ExtendedFund Export /accumulated/ mln.USD 958.90 1,299.90 36%
Facility program. Import /accumulated/ mln.USD 599.10 776.20 30%
Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia
Masato Takaoka stated that concept of the soft loan will be discussed Policy rates
after approval of IMF`s board of directors on Extended Fund Facility Central Banks interest rates Latest % Previous % Updated date
Program. We could not provide details at that time. Of course, we will Policy rate of Mongolbank /BOM/14.00 15.00 12/19/2016
consider the needs of Mongolia. PBC base interest rate (China) 4.35 4.60 10/24/2015
US DOLLAR HAS BEEN DECLINING GRADUALLY FOR THREE FED - Federal Funds Rate 1.00 0.75 3/14/2017
MONTHS ECB - main refinancing rate 0.00 0.05 3/16/2016
Selling rate of US$ 1 was at MNT 2467 in the beginning of March. It has
BOE official bank rate (England) 0.25 0.50 8/4/2016
decreased by 0.75 percent and reached MNT 2452 at the end of March.
Tugrik, the Mongolian currency has continued to appreciate against the
US Dollar since July 2016. Bank of Mongolia - Interest corridor
Indicators Latest % Previous % Updated date
Ulaanbaatar aims for sister city deal with Tokyo (news.mn) Overnight repo 17.00 18.00 12/19/2016
S.Batbold, mayor of Mongolias capital said on Wednesday (19th April) Overnight deposit 13.00 14.00 12/19/2016
that Ulaanbaatar is seeking to forge a sister city agreement with Tokyo by Repo 16.00 17.00 12/19/2016
2020 and expand bilateral ties through tourism, culture and sports. At
present Mayor Batbold is making a five-day visit to Tokyo. Under an Money market interest rates
envisioned sister city deal, which he hopes to finalise while he is in office Indicators Rates % Daily chg % Yearly chg %
until 2020, Mr Batbold said he wants his city to gain more knowledge and Libor USD 2M 1.0361 -0.05 26.44
technical expertise from Tokyo in waste disposal and recycling, and Libor USD 3M 1.1557 -0.05 15.81
attract more tourists to Ulaanbaatar. On Tokyos hosting of the Olympics, Libor USD 6M 1.3907 -0.50 5.54
Mayor Batbold quoted Yuriko Koike, the governor of the Japanese
Libor EUR 2M -0.3707 0.00 -4.85
capital, as telling him she welcomed the participation of more Mongolian
Libor EUR 3M -0.3607 -0.40 -7.22
athletes, and he expressed hope for many of his compatriots to take part in
the games.
Nomadic Elephant 2017: India-Mongolia Train Together To Take On Official exchange rates - BOM Cross rates
Terrorism (bloomberg) Official rates Cross rates 4/21/17 9:04
Vairengte, Mizoram: Somewhere near Vairengte in the north-eastern state of USD/MNT 2422.08 EUR/USD 1.0717
Mizoram, the sun is harsher than it should be in April. Suddenly, a helicopter EUR/MNT 2603.37 GBP/USD 1.2802
appears on the horizon and soldiers slither down the rope that is dropped from the GBP/MNT 3105.35 USD/CHF 0.9987
chopper as it hovers over a field where the crop has been recently harvested. The
CNY/MNT 351.81 USD/CNY 6.8822
men disappear behind a hillock and then there's silence. Minutes later, gun shots
are heard. Amidst the heavy firing, the soldiers, who literally appeared from thin JPY/MNT 22.22 USD/JPY 109.28
air, throw a grenade into one of the structures. The grenade explodes and the
soldiers return with a captive man. Another man tries to escape but he is shot by a Mongolian Bonds information
sniper who takes aim from behind a set of trees. Bonds Currency Yield % Last price Daily chg%
Mongol 2018 USD 4.15 99.98 -0.07%
USA Mongol 2021 USD 6.24 115.99 -0.04%
New US unemployment filings expected to remain close to multi-decade lows Mongol 2022 USD 6.19 95.02 0.02%
U.S. Fed fines Deutsche Bank $156.6 million for forex violations Mongol 2024-Khuraldai bond
USD 6.84 110.33 0.00%
Trump to sign executive order on tax burdens on Friday: official Mongol 2018-Dim sum bond
CNY 8.11 99.30 #VALUE!
Europe DBM-Samurai 2023 JPY 0.90 103.92 0.00%
German economy on the up, growth to pick up in first-quarter: Finance Ministry TDBM-2020 bond USD 6.62 107.89 0.02%
Euro zone needs budget, bank union to fight populism: Moscovici MMC bond USD 13.78 #N/A N/A -0.12%
Paris shooting disrupts French election campaigning
North Asia Commodity Trading Prices
Japans Merchandise Trade Surplus Narrows in March; Exports Surge 12% Commodities Latest price Daily chg% Yearly chg%
Japan Inc braces for labor reform, plans to boost productivity: Reuters poll Crude oil /WTI-New York/ $50.85 0.28 -5.34
Japan April manufacturing activity accelerates as export orders jump: flash PMI Gold Spot /ounce/ $1,281.27 -0.05 11.66
Commodity market Copper /LME/ $5,623.00 1.21 1.58
Crude Oil Prices Recover From Sharp Losses, Supply Concerns Persist Iron ore /Beijing/ 540.00 0.00 20.00
Crude edges higher in Asia with U.S. rig count figures ahead Coal /Tianjin/ 1,660.00 0.00 -5.68
Gold Slammed For 3rd Day As USDJPY Spikes

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

1 montsame.mn, news.mn, gogo.mn
DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 4/21/2017

Previous day's economic calendars Today's economic calendars

Event Period Forecast Actual Previous Event Time Period Estimated Previous

Nationwide Dept Sales YoY Mar -- -0.90% -1.70% Markit Eurozone Manufacturing04/21/2017
PMI 04:00 Apr P 56.00 56.20
Convenience Store Sales YoY Mar -- 0.00% -1.70% Markit Eurozone Services PMI 04/21/2017 04:00 Apr P 55.90 56.00
Construction Output YoY Feb -- 7.10% -6.20% Markit Eurozone Composite PMI
04/21/2017 04:00 Apr P 56.40 56.40
Initial Jobless Claims 15-Apr 240k 244k 234k ECB Current Account SA 04/21/2017 04:00 Feb -- 24.1b
Continuing Claims 8-Apr 2024k 1979k 2028k Current Account NSA 04/21/2017 04:00 Feb -- 2.5b
Bloomberg Consumer Comfort 16-Apr -- 49.90 51.00 Markit US Manufacturing PMI 04/21/2017 09:45 Apr P 53.80 53.30
Consumer Confidence Apr A (4.80) (3.60) (5.00) Markit US Services PMI 04/21/2017 09:45 Apr P 53.20 52.80
Leading Index Mar 0.20% 0.40% 0.60% Markit US Composite PMI 04/21/2017 09:45 Apr P -- 53.00
Nikkei Japan PMI Mfg Apr P -- 52.80 52.40 Existing Home Sales 04/21/2017 10:00 Mar 5.60m 5.48m

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% 99.76 100.20 4.48 3.82 0.7 5-Jan-13 5-Jan-18
Mongol 2021 500 10.875% 115.63 116.34 6.34 6.15 4.0 6-Apr-16 6-Apr-21
Mongol 2022 1,000 5.125% 94.68 95.35 6.26 6.11 5.6 5-Dec-12 5-Dec-22
Mongol 2024-Khuraldai bond 600 8.750% 110.02 110.65 6.89 6.78 6.9 9-Mar-17 9-Mar-24
Mongol 2018 - Dim sum bond 1 billion CNY 7.500% 99.03 99.57 8.36 7.87 1.2 30-Jun-15 30-Jun-18
DBM - Samurai 2023 30 billion JPY 1.520% 103.75 104.08 0.92 0.87 6.7 16-Dec-13 25-Dec-23
TDBM - 2020 bond 500 9.375% 107.18 107.89 6.74 6.49 3.1 19-May-15 19-May-20
MMC 2017 600 8.875% 63.92 64.89 13.88 13.68 -0.1 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 Line (%)
104.1 1.1%
100 118 103.918 1.1%
103.9
99.998 1.0%
115
97 95.000 103.7 1.0%
112 1.0%
94 103.5 1.0%
/Year to date/ 109 0.9%
91 110.154 103.3
0.9%
106
103.1 0.894% 0.9%
88 /Year to date/
103 0.8%
102.9 0.8%
85 100

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

2 montsame.mn, news.mn, gogo.mn
DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 4/21/2017

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 2/28/2017 United States
UBS 18,240 3.65% 0.00 12/30/2016 Switzerland
TCW GROUP INC 15,816 3.16% 0.00 3/31/2017 United States
PRUDENTIAL FINANCIAL INC 13,700 2.74% (2,000.00) 3/31/2017 United States
EATON VANCE CORP 9,668 1.93% 0.00 5/31/2016 United States
LAZARD LTD 9,320 1.86% 2,664.00 3/31/2017 Bermuda
T ROWE PRICE GROUP INC 7,543 1.51% 0.00 3/31/2015 United States
NORDEA BANK AB 5,895 1.18% (200.00) 2/28/2017 Sweden
BLACKROCK 4,695 0.94% 0.00 12/31/2016 United States
AXA 4,400 0.88% 4,400.00 6/30/2016 France
PRUDENTIAL PLC 4,000 0.80% (245.00) 2/28/2017 United Kingdom
SCHRODER INV MGMT TAIWAN LTD 3,766 0.75% (19.00) 2/28/2017 Taiwan
MEDIOLANUM INTERNATIONAL FUNDS 3,134 0.63% 0.00 6/30/2016 Ireland
DEUTSCHE BANK AG 3,000 0.60% 0.00 12/31/2014 Germany

Bond holders of Mongol 2022

Names Position % of position Latest change Fiing date Country
BLACKROCK 111,612 11.16% (3674.00) 4/19/2017 United States
ALLIANCE BERNSTEIN 36,490 3.65% 2323.00 2/28/2017 United States
PRUDENTIAL FINANCIAL INC 30,120 3.01% 1305.00 3/31/2017 United States
FMR LLC 25,620 2.56% 0.00 2/28/2017 United States
GOLDMAN SACHS GROUP INC 24,114 2.41% (2645.00) 2/28/2017 United States
GRANTHAM MAYO VAN OTTERLOO & CO 18,600 1.86% 0.00 5/31/2016 United States
DANSKE BANK A/S 15,222 1.52% 0.00 2/28/2017 Denmark
PRUDENTIAL PLC 10,500 1.05% 0.00 2/28/2017 United Kingdom
T ROWE PRICE GROUP INC 10,496 1.05% 0.00 3/31/2015 United States
UBS 9,681 0.97% (1110.00) 3/31/2017 Switzerland
FRANKLIN RESOURCES 9,400 0.94% (12100.00) 3/31/2017 United States
LAZARD LTD 8,955 0.90% (445.00) 3/31/2017 Bermuda
NN GROUP NV 7,420 0.74% 0.00 3/31/2016 Netherlands

Bond holders of Mongol 2024

Names Position % of position Latest change Fiing date Country
SYDINVEST INTERNATIONAL 3,301 0.55% 3,642.00 3/31/2017 Denmark
LANDESBANK BERLIN INVESTMENT GMB 1,500 0.25% 3,301.00 3/31/2017 Germany
AMERIPRISE FIN GRP 700 0.12% 1,500.00 3/31/2017 United States
CREDIT SUISSE GROUP AG 600 0.10% 700.00 3/31/2017 Switzerland
UBS 300 0.10% 600.00 4/18/2017 Switzerland
NATIONWIDE FUND ADVISORS 500 0.08% 300.00 3/31/2017 United States
BLACKROCK - 0.05% 500.00 4/19/2017 United States

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, theubpost.mn,

3 montsame.mn, news.mn, gogo.mn