The tugrik is an official currency of Mongolia with currency code MNT and symbol ₮. Currency is subdivided into 100 mongo. Mongolian tugrik was introduced as an official currency on 9th December 1925 at worth equivalent to soviet ruble. On 9th April 1928, tugrik became sole currency of Mongolia by replacing the Mongolian dollar and other currencies.
The first series of Mongolian coins were 1, 2, 5, 10, 15, 20 and 50 mongo and 1 tögrög. In 1992, the Mongolian People’s Republic came to an end and high inflation surged the economy. After this, mongo coins were ceased and large number of tögrög coins were introduced.
Like coins, the banknotes of Mongolia were alike to Soviet ruble used during the era of Mongolian People’s Republic. The lineup of denomination, overall design and color theme was similar. The modern series of banknotes is different in size and design generally printed in Great Britain.
The Bank of Mongolia is an authorized government body to issue and control Mongolian tugrik in Mongolian economy. Current series of banknotes and coins generally in circulation include:
Banknotes
Frequently used 10, 20, 50, 100, 500, 1,000, 5,000, 10,000, 20,000 tögrög
Rarely used 1, 5 tögrög
Coins 20, 50, 100, 200, 500 tögrög