Mongolian currency and money

Posted by

2025-05-27

On 2025-05-26

Understanding Mongolian Currency: The Tögrög (₮)

The official currency of Mongolia is the Mongolian tögrög, also spelled tugrik or tugrug, and abbreviated as MNT. The symbol for the tögrög is ₮, which you’ll commonly see in stores, restaurants, and markets across the country.

Banknotes in Use (No Coins)

Mongolia primarily uses banknotes for everyday transactions. Coins are no longer used in circulation.

₮10, ₮20, ₮50, ₮100, ₮500, ₮1,000, ₮5,000, ₮10,000 and ₮20,000

Note: Banknotes below ₮100 are rarely used due to their low value. Most vendors round prices to the nearest hundred tögrögs.

Banknote Designs

Mongolian banknotes feature prominent historical figures:

Genghis Khan: The founder of the Mongol Empire, depicted on higher denominations such as the ₮1,000, ₮5,000, ₮10,000, and ₮20,000 notes.
Damdin Sükhbaatar: A national hero and leader of Mongolia’s 1921 revolution, featured on lower denominations like the ₮500 note.

These designs reflect Mongolia’s rich history and cultural heritage.

Exchange Rates

As of May 27, 2025, the exchange rate is approximately:

1 USD = 3,573.44 MNT Монгол Улсын Төв Банк.

Exchange rates can fluctuate, so it’s advisable to check the latest rates before making currency exchanges. For the most current rates, visit the Монгол Улсын Төв Банк.

Accessing Money in Mongolia

ATMs: Automated Teller Machines are widely available in Ulaanbaatar and major provincial centers. They accept international cards such as Visa, MasterCard, and American Express. However, it’s essential to inform your home bank of your travel plans to avoid any transaction issues.

Currency Exchange: Currency exchange services are available at airports, banks, and authorized exchange counters. While airport exchange rates might be slightly less favorable, they offer convenience upon arrival. For better rates, consider exchanging currency at banks or authorized dealers in city centers.

Credit and Debit Cards: Major hotels, restaurants, and shops in urban areas accept credit and debit cards. However, in rural regions, cash is the preferred method of payment. It’s advisable to carry sufficient cash when traveling outside major cities.

Tips for Travelers

Carry Small Denominations: Smaller notes are handy for minor purchases, especially in markets or rural areas.
Avoid Damaged Notes: Some vendors may be reluctant to accept torn or heavily worn banknotes.
Keep Receipts: When exchanging currency, retain your receipts, as they might be required for reconversion or other financial transactions.
Stay Informed: Regularly check exchange rates and be aware of any changes in currency regulations during your stay.

Understanding the Mongolian tögrög and the country’s monetary practices will enhance your travel experience, ensuring smooth financial transactions throughout your journey.

20.000 MNT (pronounced horin myangan tukrik)