Bank Exchange Rates for Mongolian Tugrik
Bank Exchange Rates for Mongolia - MNT - Mongolian Tugrik (or tugrik) - ₮. The foreign exchange rates for Mongolia also known as the ISO code MNT or the Mongolian Tugrik (or tugrik) currency and as a symbol ₮.
The Mongolian Tugrik also known as Mongolian Togrog is the Mongolian Currency. It has been symbolized globally with the currency code MNT while its local symbol is â‚®. The Mongolian currency is only viable for use by the Mongolians and is issued by the Bank of Mongolia. However, it can be traded to the outside world at an exchange rate of 0.00080 US dollars i.e. as of February 23, 2011.
Bank Exchange Rates for Mongolia
Background information on Mongolian
Before the Mongolian Tugrik was legalized as the sole Mongolia Currency, there existed the Mongolian Dollar alongside other currencies. It was introduced on 9th December, 1925 at a value interchangeable with one soviet Ruble, which was a currency from the Soviet Union. It was legalized in 1928, on April 1st. There also existed the mongo but it became extinct as its value declined over the years, due to inflation. However, most of the Mongolian people are still in possession of the mongo, but as a memoir of their currency history. Tourist who get to visit Mongolia, purchase the mongo as a novelty and keep it as a souvenir.
Currency Rate for Mongolia
Currency denominations for Mongolian
The Mongolian tugrik is available in 8 different denominations. These denominations are basically found in form of coins or notes. They include: 1 tugrik, brown in colour; 2 tugrik, green in colour; 5 tugrik, blue in colour; 10 tugrik, green in colour; 20 tugrik, red in colour; 25 tugrik, lilac in colour; 50 tugrik, green in colour and 100 tugrik, brown in colour.
Currency Rates for Mongolian Tugrik
Issues with the Mongolian Tugrik
The current available Mongolian Tugrik dates back to 2003 when they were possibly last printed. The Mongolian Tugrik is limited to 815 tugrik for either importing or exporting across the globe. It is not as strong as the US dollar or the Euro. Thus to actually purchase a product say, bottled water, you'd need about 400 tugrik, while to take a trolleybus ride, you'd need as low as 200 tugrik.
The foreign exchange rates for Mongolia also known as the ISO code MNT or the Mongolian Tugrik (or tugrik) currency and as a symbol ₮.
Send Money Transfer to Mongolia. Coins are available in denominations ofn20, 50, 100, 200 and 500 Togrog. Banknotes are available in denominations of 1, 5, 10, 20, 50, 100, 500, 1,000, 5,000, 10,000 and 20,000 Togrog.
GBP to MNT
The Togrog subdivides into 100 Mongo. however, the lowest banknotes currently in circulation and regular use of the 10 Togrog note, with the highest being the 2,000 Togrog note.
The Togrog replaced the Mongolian dollar and became Mongolia’s legal currency in 1928. Bank Exchange Rates for Mongolian Tugrik. The foreign exchange rates for Mongolia also known as the ISO code MNT. Send money transfer online with us with the cheapest options.