The Mongolian Tugrug or Tugrik ₮ MNT
In 1928, the Tugrik officially replaced the Mongolian Dollar and became the standard currency of Mongolia. It was pegged to the Soviet Ruble, but once the cold war ended, the Mongolian Tugrik continues and fluctuates as their economy is based primarily on agriculture, rare earth minerals, and gold mining.
Coins and banknotes?
The Mongolian Tugrik comes in both coins and banknotes. Coins come in denominations of 20, 50, 100, 200, and 500.
Banknotes come in denominations of 10, 20, 50, 100, 500, 1,000, 5,000, 10,000, 20,000.
Where can I get Mongolian Tugriks?
As you might have guessed, almost all banks around the world don’t exchange Mongolian currency. You’d have to most likely exchange money on arrival. The only exception that I know of MIGHT be in the city of Hohhot in northern China, since Hohhot and Ulaanbaator have direct trade routes. You can try your luck at a major bank chain such as China Construction Bank or Bank of China, but don’t count on it. No pun intended!
What is the exchange rate?
The exchange rate for one USD is approximately 2,800 MNT.