DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report

Treasury Management Division 4/24/2017

News Highlights Mongolian Economic Main Indicators

Mongolia Indicators Unit 2016.03 2017.03 Year/chg %
PM meets with Gilead Sciences representatives to fight hepatitis Money Supply (M2) bln.MNT 10,112.40 12,177.70 20%
(gogo.mn) Inflation /Year to date/ % 1.20% 2.10% 75.0%
Prime Minister J.Erdenebat met with Ben Kamarck, Asia Pacific Regional Equilibrated overall bal of budget bln.MNT (615.70) (255.10) -59%
Director of U.S. pharmaceuticals manufacturer Gilead Sciences, on Trade balance mln.USD 359.90 523.70 45.5%
Thursday to discuss cooperation in fighting hepatitis in Mongolia. Gilead Export /accumulated/ mln.USD 958.90 1,299.90 36%
Sciences is implementing a project to reduce liver disease in Mongolia, Import /accumulated/ mln.USD 599.10 776.20 30%
and is providing 3,000 Mongolian patients with the hepatitis C medication
Harvoni at a lower cost. During the meeting, the Prime Minister Policy rates
underlined that the Government of Mongolia is working to dramatically Central Banks interest rates Latest % Previous % Updated date
reduce the number of Mongolians diagnosed with liver disease by Policy rate of Mongolbank /BOM/14.00 15.00 12/19/2016
implementing the Eleg Buten Mongol Program, as well as bringing down PBC base interest rate (China) 4.35 4.60 10/24/2015
the number of people infected with the hepatitis C virus. FED - Federal Funds Rate 1.00 0.75 3/14/2017
Mongolian Presidential Election: Preparation for voting abroad ECB - main refinancing rate 0.00 0.05 3/16/2016
underway (news.mn) BOE official bank rate (England) 0.25 0.50 8/4/2016
Practical preparation for the forthcoming Mongolian Presidential Election
is already underway. On 19th of April, The General Election Commission Bank of Mongolia - Interest corridor
held a meeting on organising voting for citizens living in those foreign Indicators Latest % Previous % Updated date
countries where Mongolian diplomatic missions are located. At the Overnight repo 17.00 18.00 12/19/2016
meeting, sub-commissions responsible for the organisation of voting Overnight deposit 13.00 14.00 12/19/2016
abroad were established. According to the Law on Elections, sub-
Repo 16.00 17.00 12/19/2016
commissions shall be established at the diplomatic missions of Mongolia
within 40 days prior to the voting day. Each sub-commission should be
Money market interest rates
composed of 3-7 members, including a chief-organiser and a deputy. At
Indicators Rates % Daily chg % Yearly chg %
the meeting, a total of 45 sub-commissions in 32 countries, including
Libor USD 2M 1.0400 -0.05 26.92
Australia, the UK, the USA, Germany, Kazakhstan, Russia, South Korea
and China were established. Voters residing abroad will cast their vote on Libor USD 3M 1.1562 0.26 15.87
10th-11th of June. Libor USD 6M 1.4021 0.58 6.41
Mongolia launches first satellite (bloomberg) Libor EUR 2M -0.3721 -0.58 -5.25
Mongolia has launched its first satellite, reports Reuters citing the online Libor EUR 3M -0.3621 -0.40 -7.64
site of Mongolian Parliament. The Mongol Sat-1 satellite will be used for
TV, internet and other telecommunications services. The satellite was Official exchange rates - BOM Cross rates
launched under partnership with the Asia Broadcast Satellite. Official rates Cross rates 4/24/17 9:45
Oyu Tolgoi to make US$ 800 million investment this year (gogo.mn) USD/MNT 2422.58 EUR/USD 1.0842
Bank of Mongolia held press session today to introduce macroeconomic EUR/MNT 2597.85 GBP/USD 1.2799
situation in the first three months of 2017. GBP/MNT 3108.29 USD/CHF 0.9955
At the meeting, positive changes in the economic sector were highlighted. CNY/MNT 352.04 USD/CNY 6.8825
~ Oyu Tolgoi LLC to make US$ 800 million investment this year. JPY/MNT 22.18 USD/JPY 109.99
~ Prices for coal, Mongolian major export product sharply increased in
China. Mongolian Bonds information
Bonds Currency Yield % Last price Daily chg%
Mongol 2018 USD 4.12 100.00 -0.03%
USA Mongol 2021 USD 6.22 116.04 -0.03%
Trump warming to EU trade deal with Britain behind in queue Mongol 2022 USD 6.15 95.18 0.08%
Big tax reform and tax reduction will be announced next Wednesday Mongol 2024-Khuraldai bond
USD 6.82 110.42 -0.14%
North Korea says it is ready to strike U.S. aircraft carrier Mongol 2018-Dim sum bond
CNY 8.17 99.24 #VALUE!
Europe DBM-Samurai 2023 JPY 0.91 103.85 0.00%
French conservatives, Socialists say will back Macron for president TDBM-2020 bond USD 6.59 108.00 0.18%
Euro surges to 5-month high against dollar after French election MMC bond USD 13.78 #N/A N/A -0.12%
ECB's Draghi says euro-area growth is firming and broadening
North Asia Commodity Trading Prices
Japan's Aso pushes back on U.S. call for scrutiny of currency moves Commodities Latest price Daily chg% Yearly chg%
China's regulator orders insurers to focus on risk Crude oil /WTI-New York/ $49.83 0.42 -7.24
China central bank chief says 6.5 percent growth target 'within reach' Gold Spot /ounce/ $1,276.72 -0.60 11.26
Commodity market Copper /LME/ $5,623.00 0.00 1.58
Crude gains in Asia in relief rally after France election outcome Iron ore /Beijing/ 510.00 -5.56 13.33
Rio Tinto Cuts Copper Target; Coking Coal, Bauxite Miss 1Q Ests Coal /Tianjin/ 1,660.00 0.00 -5.68
Optimism about the demand outlook of metals is waning amid geopolitical tensions

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

1 montsame.mn, news.mn, gogo.mn
DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 4/24/2017

Previous day's economic calendars Today's economic calendars

Event Period Forecast Actual Previous Event Time Period Estimated Previous

Tertiary Industry Index MoM Feb 0.30% 0.20% 0.00% Supermarket Sales YoY 04/24/2017 01:00 Mar -- -3.30%
Markit Eurozone Manufacturing PMIApr P 56.00 56.80 56.20 Leading Index CI 04/24/2017 01:00 Feb F -- 104.40
Markit Eurozone Services PMI Apr P 55.90 56.20 56.00 Coincident Index 04/24/2017 03:00 Feb F -- 115.50
Markit Eurozone Composite PMI Apr P 56.40 56.70 56.40 Govt Debt/GDP Ratio 04/24/2017 06:00 8-Jul -- 90.40%
ECB Current Account SA Feb -- 37.9b 24.1b Chicago Fed Nat Activity Index04/24/2017 09:00 Mar 0.50 0.34
Markit US Manufacturing PMI Apr P 53.80 52.80 53.30 Dallas Fed Manf. Activity 04/24/2017 17:00 Apr 17.00 16.90
Markit US Services PMI Apr P 53.20 52.50 52.80 PPI Services YoY 04/24/2017 04/28 Mar 0.70% 0.80%
Markit US Composite PMI Apr P -- 5270.00% 5300.00%
Existing Home Sales Mar 5.60m 5.71m 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% 99.78 100.21 4.44 3.80 0.7 5-Jan-13 5-Jan-18
Mongol 2021 500 10.875% 115.68 116.41 6.32 6.13 4.0 6-Apr-16 6-Apr-21
Mongol 2022 1,000 5.125% 94.84 95.52 6.23 6.08 5.6 5-Dec-12 5-Dec-22
Mongol 2024-Khuraldai bond 600 8.750% 110.10 110.73 6.88 6.77 6.9 9-Mar-17 9-Mar-24
Mongol 2018 - Dim sum bond 1 billion CNY 7.500% 98.92 99.57 8.47 7.87 1.2 30-Jun-15 30-Jun-18
DBM - Samurai 2023 30 billion JPY 1.520% 103.69 104.01 0.93 0.88 6.7 16-Dec-13 25-Dec-23
TDBM - 2020 bond 500 9.375% 107.20 108.00 6.73 6.45 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 1.1%
103.9 103.848
100.025 1.0%
115
97 95.100 103.7 1.0%
112 1.0%
94 103.5 1.0%
/Year to date/ 109 0.9%
91
110.583 103.3
106
0.9%
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 4/24/2017

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 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% (3248.00) 4/21/2017 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 17,100 1.71% (1500.00) 11/30/2016 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 4/19/2017 Switzerland
NATIONWIDE FUND ADVISORS 500 0.08% 300.00 3/31/2017 United States
BLACKROCK - 0.05% 500.00 4/21/2017 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