Countries that use the MNT
Currency Exchange Rates for Mongolian Togrog? Convert GBP to MNT at todays exchange rate. See money transfer for Mongolia and historical to restrictions.
All you need to know about Mongolian money
Q1. What are the other names for the currency? Is there any nickname for Mongolian Tugrik?
A1. The Mongolian money is officially called Mongolian Tugrik. However, it is also commonly known as tÃ¶grÃ¶g or tugrik. The currency code for the same is MNT.
Q2. What is the Central Bank of Mongolia called?
A2. The Bank of Mongolia (BoM) established under the Law of Mongolia on Central Bank is the Central Bank of the country.
Q3. What is the inflation rate in Mongolia?
A3. Bank of Mongolia reported a 3.3% Y-to-Y inflation rate in June 2017.
Q4. What are the spelling and capitalization rules for the currency?
A4. It is spelled as Mongolian Tugrik. Alternately, a tugrik is also spelled as â€tughrik.â€ When using the code, you write MNT (all uppercase).
Q5. Is tugrik used outside Mongolia also?
A5. It is very difficult o find tugriks outside the Mongolian nation. Even the odds of bank storing Mongolian notes or coins are rare.
Q6. How do you convert GBP to MNT?
A6. It is advised to carry British Pounds to Mongolia and get it converted from there. One should get a small amount exchanged at the arrival point (station, airport, etc), and larger amounts then should preferably be changed from the city of Ulaanbaatar.
Q7. How many tugriks can you get for one GBP?
A7. The BoM reported a closing rate of 3201.84 Tugriks per GBP on 27th of May 2017.
Q8. What is the sign of Tugrik?
A8. The official symbol for Mongolian Tugrik is â‚®.
Q9. Is Mongolian Tugrik stable or undervalued?
A9. Mongolian money has been outstanding in performance since its listing in 2011. But from August 2016, itâ€™s been highly fluctuating, and apparently has faced a free fall. The reason behind is quite clear- fall in commodity prices, the slowdown in the Chinese economy and slower foreign direct investment.
Q10. Which are the main currencies in use and why?
A10. The US Dollar, for its global acceptability, clearly is the most traded currency on the planet. Other popular currencies are Euro, Yen, British Pound, Swiss Franc and Canadian Dollar.
Currency Information on Mongolian Tugrik -MNT— Mongolian Togrog (or tugrik) - ₮
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.
The Togrog subdivides into 100 mongo, however the lowest banknotes currently in circulation and regular use is 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.
Over a year ago we expanded our IT company and opened a new office in the UK. We have two offices in Europe now; we need to send money abroad very often, from Portugal to the UK and from the UK to Portugal. Knowing how to send money internationally in a safe way is therefore a crucial need for us on a weekly basis.
Comment written by Tiago Goncalves Director of an it Company.
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