ULAN BATOR, Jan. 2 (Xinhua) -- Mongolia's foreign exchange reserves hit a record high of 7 billion U.S. dollars by the end of 2025, according to official data released by the country's central bank on Friday.

The figure represents a 27.14 percent increase compared to the previous year, the Bank of Mongolia said in a statement.

The central bank expects to increase the country's foreign exchange reserves to 10 billion dollars in the long term.

According to the regulator, Mongolia's foreign exchange reserves stood at 5.5 billion dollars by the end of December 2024. ■