DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report

Treasury Management Division 4/20/2017

News Highlights Mongolian Economic Main Indicators

Mongolia Indicators Unit 2016.03 2017.03 Year/chg %
Protesters stage sit-in to fight against offshoring (theubpost.mn) Money Supply (M2) bln.MNT 10,112.40 12,177.70 20%
The United Movement Against Offshore Account Holders is continuing Inflation /Year to date/ % 1.20% 2.10% 75.0%
their peaceful demonstration against politicians with offshore accounts Equilibrated overall bal of budget bln.MNT (615.70) (255.10) -59%
with a sit-in at Sukhbaatar Square. The peaceful demonstration ended at Trade balance mln.USD 359.90 523.70 45.5%
4:45 p.m. on Sunday, but a group of protesters decided to hold a sit-in Export /accumulated/ mln.USD 958.90 1,299.90 36%
since despite not receiving a permission to organize it. They declared that Import /accumulated/ mln.USD 599.10 776.20 30%
they have sent a formal letter to the Unite Nations as the state continued to
ignore their plea to take action against offshoring, which they consider a Policy rates
violation of human rights. The letter requests the UN Secretary-General to Central Banks interest rates Latest % Previous % Updated date
have Mongolia enlisted as a country with weak anti-money laundering Policy rate of Mongolbank /BOM/14.00 15.00 12/19/2016
(AML) regime in the Financial Action Task Force list of Non- PBC base interest rate (China) 4.35 4.60 10/24/2015
Cooperative Countries or Territories. They also sent copies of the letter to FED - Federal Funds Rate 1.00 0.75 3/14/2017
embassies of the USA, the UK, China, Germany, Russia, and Japan in ECB - main refinancing rate 0.00 0.05 3/16/2016
Mongolia.
BOE official bank rate (England) 0.25 0.50 8/4/2016
Mongolia Clears Hurdles Needed for $5.5 Billion IMF-led Bailout
(bloomberg terminal) Bank of Mongolia - Interest corridor
(Bloomberg) -- Mongolia has fulfilled prerequisites from the International Indicators Latest % Previous % Updated date
Monetary Fund to receive a $5.5-billion bailout and is expected to receive Overnight repo 17.00 18.00 12/19/2016
an initial tranche of cash at the end of this month. Overnight deposit 13.00 14.00 12/19/2016
"All the prior conditions have been met" for Mongolia to receive an IMF- Repo 16.00 17.00 12/19/2016
supported package, Neil Saker, resident representative for the fund said
Wednesday in the capital, Ulaanbaatar. It is their program and along the Money market interest rates
lines of their recovery plan. Strong country ownership will increase the Indicators Rates % Daily chg % Yearly chg %
chances of success.A downturn in commodity prices and disputes with Libor USD 2M 1.0367 0.16 26.51
investors soured Mongolias once world-beating economy, sending
Libor USD 3M 1.1562 -0.19 15.87
economic growth to just 1 percent last year from 17 percent in 2011.
Libor USD 6M 1.3977 -0.40 6.07
Tolgoits 3.6-kilometer road to be completed by fall (theubpost.mn) Libor EUR 2M -0.3707 1.14 -4.85
Songinokhairkhan District aims to finish the construction of a 3.6 Libor EUR 3M -0.3593 -0.40 -6.79
kilometer road from the Tolgoit bus terminal to Orbit intersection by the
end of summer, as announced by District Mayor J.Sandagsuren. Mayor Official exchange rates - BOM Cross rates
J.Sandagsuren shared plans to tackle traffic and reduce the workload of Official rates Cross rates 4/20/17 8:58
educational facilities over the next two years. Tolgoit zam hartsaga --- USD/MNT 2415.98 EUR/USD 1.0717
(1)Were working to complete the construction of a 3.6 kilometer road EUR/MNT 2592.71 GBP/USD 1.2783
from Tolgoit bus terminal to Orbit intersection this summer. Moreover, GBP/MNT 3097.65 USD/CHF 0.9979
the construction of a road to connect Uildverchnii Evlel Street with USD/CNY
CNY/MNT 350.85 6.8880
Moscow Town will start this year. In the next two years, more roads will
JPY/MNT 22.20 USD/JPY 108.98
be built to reduce congestion in the western part of Ulaanbaatar. We will
take measures to reduce the workload of schools and kindergartens,
Mongolian Bonds information
Mayor J.Sandagsuren noted.
Bonds Currency Yield % Last price Daily chg%
Mongol 2018 USD 4.17 99.97 410.300%
USA Mongol 2021 USD 6.26 115.95 626.200%
IMF chief says all members believe in free, fair trade Mongol 2022 USD 6.20 94.98 622.300%
IMF says global financial stability has improved Mongol 2024-Khuraldai bond
USD 6.87 110.13 687.000%
Dollar rebounds from three-week low; sterling retreats Mongol 2018-Dim sum bond
CNY 8.13 99.28 826.100%
Europe DBM-Samurai 2023 JPY 0.89 103.94 89.400%
Euro area international trade in goods surplus 17.8 bn TDBM-2020 bond USD 6.71 107.68 671.500%
Britain is expected to formally leave the European Union in March 2019. MMC bond USD 13.76 #N/A N/A 1376.300%
Annual inflation down to 1.5% in the euro area
North Asia Commodity Trading Prices
Japan exports rise in March, trade friction fears cloud outlook Commodities Latest price Daily chg% Yearly chg%
Japan manufacturers' mood rises to pre-financial crisis level: Reuters Tankan Crude oil /WTI-New York/ $50.69 0.50 -5.64
PBOC Friday showed that off-balance sheet lending surged 754 billion yuan in March Gold Spot /ounce/ $1,278.75 -0.11 11.44
Commodity market Copper /LME/ $5,556.00 -0.29 0.37
Crude rebounds in early Asia after sharp drop on U.S. inventories Iron ore /Beijing/ 540.00 -3.57 20.00
Russia Seen Backing Longer Oil-Output Cuts to Extend Price Rally Coal /Tianjin/ 1,660.00 0.00 -5.68

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

1 montsame.mn, news.mn, gogo.mn
DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 4/20/2017

Previous day's economic calendars Today's economic calendars

Event Period Forecast Actual Previous Event Time Period Estimated Previous

EU27 New Car Registrations Mar -- 0.11 0.02 Nationwide Dept Sales YoY 04/20/2017 01:30 Mar -- -1.70%
Trade Balance SA Feb 18.0b 19.2b 15.7b Construction Output YoY 04/20/2017 05:00 Feb -- -6.20%
Trade Balance NSA Feb 16.2b 17.8b -0.6b Initial Jobless Claims 04/20/2017 08:30 15-Apr 240k 234k
CPI YoY Mar F 1.50% 1.50% 1.50% Continuing Claims 04/20/2017 08:30 8-Apr 2024k 2028k
CPI Core YoY Mar F 0.70% 0.70% 0.70% Bloomberg Consumer Comfort 04/20/2017 09:45 16-Apr -- 51.00
MBA Mortgage Applications 14-Apr -- -1.80% 1.50% Bloomberg Economic Expectations
04/20/2017 09:45 Apr -- 54.00
Trade Balance Adjusted Mar 172.0b 172.2b 680.3b Consumer Confidence 04/20/2017 10:00 Apr A (4.80) (5.00)
Exports YoY Mar 6.20% 12.00% 11.30% Leading Index 04/20/2017 10:00 Mar 0.20% 0.60%
Imports YoY Mar 10.00% 15.80% 1.20% Nikkei Japan PMI Mfg 04/20/2017 20:30 Apr P -- 52.40

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% 99.75 100.18 4.48 3.86 0.7 5-Jan-13 5-Jan-18
Mongol 2021 500 10.875% 115.56 116.30 6.36 6.16 4.0 6-Apr-16 6-Apr-21
Mongol 2022 1,000 5.125% 94.62 95.33 6.28 6.12 5.6 5-Dec-12 5-Dec-22
Mongol 2024-Khuraldai bond 600 8.750% 109.88 110.39 6.92 6.83 6.9 9-Mar-17 9-Mar-24
Mongol 2018 - Dim sum bond 1 billion CNY 7.500% 98.96 99.61 8.42 7.84 1.2 30-Jun-15 30-Jun-18
DBM - Samurai 2023 30 billion JPY 1.520% 103.77 104.10 0.92 0.87 6.7 16-Dec-13 25-Dec-23
TDBM - 2020 bond 500 9.375% 106.86 107.68 6.85 6.57 3.1 19-May-15 19-May-20
MMC 2017 600 8.875% 63.96 65.01 13.88 13.65 -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%
100 118 103.938 1.1%
103.9
100.031 1.0%
115
97 94.859 103.7 1.0%
112 1.0%
94 103.5 1.0%
/Year to date/ 109 0.9%
91 109.958 103.3
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 4/20/2017

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) 2/28/2017 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) 4/18/2017 United States
ALLIANCE BERNSTEIN 36,490 3.65% 2323.00 2/28/2017 United States
PRUDENTIAL FINANCIAL INC 29,920 2.99% 1105.00 2/28/2017 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
FRANKLIN RESOURCES 18,500 1.85% (3000.00) 12/31/2016 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
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 4/13/2017 Switzerland
NATIONWIDE FUND ADVISORS 500 0.08% 300.00 3/31/2017 United States
BLACKROCK - 0.05% 500.00 4/18/2017 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