Currency in Mongolia: exchange, import, money. What is the currency in Mongolia?
Currency in Mongolia
If not everyone is able to answer what currency is in Mongolia, then at least almost everyone knows its name - tugrik. It is mentioned in many movies and songs. So the money of Mongolia is known to us at least by hearsay..
Formally in Mongolia there is also a bargaining chip - mungu, but today they are not used in everyday life..
Something from history
Tugriks were introduced in 1925 after the people's democratic revolution in the country. They were printed and minted in Leningrad at the mint. Interestingly, change money - mungu, which is 1/100 tugrik, were also issued in banknotes in denominations of 10, 20 and 50.
In Mongolia, a number of monetary reforms were carried out, however, legally the Tugrik of 1925 is still in use today. In fact, old coins and banknotes were seized, including paper «small coin», as well as notes in denominations of 1 and 5 tugriks.
What is better to take with you
Regarding what currency to take to Mongolia, there is one answer: US dollars. They are easiest to exchange for local currency. Although, it should be noted that there are no special problems with the euro and even Russian rubles. But in the meantime, knowledgeable people argue that the most profitable rate is precisely with American money. However, those who have traveled to the country know that currency exchange in Mongolia is a rather tricky business, well, or not as simple as, for example, in Russia. Firstly, outside of large cities this is extremely problematic, and secondly, not all banking institutions are engaged in conversion, but only those that have special accreditation. Exchange offices exist, in addition to banks, in some very large metropolitan hotels and supermarkets..
Note that foreign currency, including Russian rubles, is quite often accepted in stores and markets - you just have to bargain about the exchange rate.
Cash
As in almost all other countries, the import of currency into Mongolia is limited to two thousand US dollars. For other currencies, the threshold is set in relation to «green» at the official rate of Mongolbank.
Naturally, there are no restrictions on the import of funds «as» credit cards don't exist. However, it should be borne in mind that using plastic cards in Mongolia is not at all as easy as it is with us. Cashless payments are almost impossible outside big cities, and even in the capital Ulan Bator, they are not accepted everywhere either. Although, of course, in any more or less large hotel, restaurant or supermarket you will not have any problems.