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LOCAL CURRENCY IN MONGOLIA

Need to know how much is your money worth in Mongolia? The currency used in Mongolia is called Tögrög.

The Mongolian Tögrög is issued and managed by the Bank of Mongolia. To find out the current currency exchange rates for Tögrög to other major currencies of the world, click on foreign currency rates.

Mongolian Currency Information
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The currency used in Mongolia is called as the Tögrög. This currency is denoted with the currency sign ? and the ISO 4217 Code for the Mongolian Tögrög is MNT. The Tögrög, is the official currency of the Mongolia . It is divided into 100 smaller units called möngö (?????).

The constitution of Mongolia provides that the Mongolia government shall have the power to print the Mongolian Tögrög and möngö (?????) coins to be used as a legal tender in Mongolia. The Mongolian Tögrög bank notes and Möngö (?????) coins are both designated as "legal tender" in payment of debts.

The Mongolian Tögrög bill uses the decimal system, consisting of 100 equal units.

The symbol ?, usually written before the numerical amount, is used for the Mongolian Tögrög.

Currently printed bank notes denominations are 10, 20, 50, 100, 500, 1000, 5000, 10,000, 20,000 tögrög and the coins are minted in the denominations of 20, 50, 100, 200, 500 tögrög .

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The Effect of Balance of Trade and Investment on the Value of Mongolian Tögrög
Financial analysts regularly cite the balance of trade and investment in Mongolia as the most important influence on the value of the Tögrög. The difference between what the Mongolia exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Tögrög exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Tögrög exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Mongolian Tögrög.
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