Mongolian tögrög

Mongolian tögrög
Монгол төгрөг (Mongolian)
20 tögrög 5000 tögrög
ISO 4217 code MNT
User(s)  Mongolia
Inflation 16.3%
Source Bank of Mongolia homepage, March 2009.
Subunit
1/100 möngö (мөнгө)
Symbol ₮
Plural tögrög
möngö (мөнгө) möngö
Coins 20, 50, 100, 200, 500 tögrög
Banknotes 10, 20, 50, 100, 500, 1000, 5000, 10,000, 20,000 tögrög
Central bank Bank of Mongolia
Website www.mongolbank.mn

The tögrög or tugrik (Mongolian: төгрөг, tögrög) (sign: ₮; code: MNT) is the official currency of Mongolia. It was historically subdivided into 100 möngö (мөнгө). Currently the lowest denomination in regular use is the 10-tögrög note and the highest is the 20,000-tögrög note. Currency sign is U+20AE ₮ tugrik sign.

In 2010, the tögrög was the best-performing currency world-wide.[1]

Contents

History

The tögrög was introduced on December 9, 1925[2] at a value equal to one Soviet ruble, where one ruble or tögrög was equal to 18 grams (0.58 ozt) of silver. It replaced the Mongolian dollar and other currencies and became the sole legal currency on April 1, 1928.

Möngö coins are not in circulation as currency any longer, as they are of negligible value. They are sold to tourists and as novelties and collectibles now.

Coins

During socialism, the tögrög coin denominations were 1, 2, 5, 10, 15, 20, 50 möngö, and 1 tögrög. After the Mongolian People's Republic came to an end in 1990 and inflation surged, the möngö coins were abandoned and larger tögrög values introduced.

Coin Series during the People's Republic of Mongolia era [1]
Images Series Composition Obverse Reverse Date recalled Valueless since Script Minted in Calendar used
[2] 1925 1-5 möngö: copper
10-20 möngö: 0.5 silver
50 möngö, 1 tögrög: 90% silver		 Soyombo Value 1950 1970 Mongolian Soviet Union Mongolian Year 15
[3] 1937 1-5 möngö: aluminium bronze
10-20 möngö: cupronickel		 1960 1970 Mongolian Year 27
[4] 1945 coat of arms, "Бугд Найрамдах Монгол Ард Улс" (People's Republic of Mongolia) 1970 1970 Cyrillic Mongolian Year 35
[5] 1959 Aluminium 1990 1990 P.R. China Common Era
[6], [7] 1970, 77, 80, 81 1-5 möngö: aluminium
10-50 möngö: cupronickel		 coat of arms, state title in short (БНМАУ) for 1-5 möngö, in full for 10-50 möngö — — 1970, 77: East Germany
1980, 81: Mongolia
[8] Circulating & commemorative 1 tögrög 1971: aluminium bronze, cupronickel, silver, or gold
1981: aluminium bronze		 coat of arms, full state title, value "БНМАУ", Damdin Sükhbaatar on a horse, "50 ЖИЛ" or "60 ЖИЛ" depending on the year  ?  ? 1971: East Germany
1981: Mongolia		 —
1981-88: 1 tögrög with various commemorative subjects Aluminium bronze 6 designs, such as Karl Marx, Soviet-Mongolian space flight, etc.  ?  ? Mongolia Common Era
Current Coins [9]
Image Value Technical parameters Description Date of first minting
Obverse Reverse Diameter Thickness Mass Composition Edge Obverse Reverse
[10] [11] 20 tögrög 17.5 mm 1.5 mm 0.78 g Aluminium Milled Value Soyombo 1994
[12] [13] 50 tögrög 23 mm 1.8 mm 16.8 g
[14] [15] 100 tögrög 22 mm 1.5 mm 3.84 g Cupronickel Value, Janraisig Temple
[16] [17] 200 tögrög 25 mm 1.7 mm 6.2 g Value, the Government House
[18] [19] 500 tögrög 22 mm 1.7 mm 4.1 g Plain Value, Soyombo Damdin Sükhbaatar 2001
For table standards, see the coin specification table.

Banknotes

Like coins the tögrög banknotes were very similar to the Soviet ruble during the Mongolian People's Republic era. The similarities included color theme, overall design, and the lineup of the denominations, which were 1, 2, 5, 10, 25, 50, 100 tögrög unless stated otherwise. The color for each value is

They were all printed in the Soviet Union. But modern tögrög banknotes are usually printed in Great Britain.

Banknote Series during the People's Republic of Mongolia era [20]
Image Series Obverse Reverse Date recalled Valueless since Script Calendar used Remark
[21] 1925 Soyombo, value Value 1940 1966 Mongolian Common Era 2 tögrög in green instead of 3 tögrög
[22] 1939 Soyombo, Sükhbaatar Value 1955 1966 Common Era and Mongolian Year 29 25 tögrög in brown
1941 Coat of arms, Sükhbaatar  ?  ? Both Common Era and Mongolian Year 31
[23] 1955 1966 1966 Cyrillic Common Era 25 tögrög in blue on obverse, brown on reverse
[24] 1966 Coat of arms, Sükhbaatar except 1 tögrög Value for 1-25 tögrög, the Government House for 50 and 100 tögrög — — Both
1981, 83 As above, except industrial theme for 20 tögrög 20 tögrög in green instead of 25 tögrög
1993 Series [25]
Image1 Value Dimensions Main Color Description Date of issue2 Usage
Obverse Reverse Obverse Reverse Watermark
10 möngö 45 × 90 mm Pink Soyombo, Archery Archery — 1993 Very rare in circulation. Abundant among collectors.
20 möngö 45 × 90 mm Yellow-brown Soyombo, Wrestling Wrestling
50 möngö 45 × 90 mm Green-cyan Soyombo, Horse riding Horse riding
[26] [27] 1 tögrög ( neg ) 115 × 57 mm Yellow-brown Lion Soyombo Paiza Genghis Khan
[28] [29] 5 tögrög ( tavan ) 120 × 60 mm Orange Sükhbaatar, Soyombo, Paiza Mountainous landscape and horses eating grass Rarely used anywhere but in banks
10 tögrög ( arvan ) 125 × 61 mm Green 1993, 20023 The smallest commonly used note
20 tögrög ( horin ) 130 × 65 mm Reddish purple
50 tögrög ( tavin ) 135 × 66 mm Brown 1993, 20003
100 tögrög ( zuun ) 140 × 68 mm Violet
[30] [31] 500 tögrög ( tavan zuun ) 145 × 70 mm Green Genghis Khan, Soyombo, Paiza Mongolian yurts in motion 1993, 1997
20003, 20034
1000 tögrög ( myangan ) 150 × 72 mm Blue 1993, 1997
20034
5000 tögrög ( tavan myangan ) 150 × 72 mm Pink-purple "Drinking Fountain" at Genghis Khan's court 1994, 20034
10,000 tögrög ( arvan myangan ) 150 × 72 mm Orange 1995, 20024
20,000 tögrög ( horin myangan ) Lime and purple Nine White Banner 2006
For table standards, see the banknote specification table.

Remarks

  1. Images shown are the earliest variations of each value
  2. Issued dates are listed for up to 2003. It is known that there is a 2005 edition of 10 tögrög, but it is yet unclear whether or not it was the only value for the 2005 edition.
  3. Lower value notes (10 ~ 500 tögrög) issued in 2000 and after have line-patterned color underprint on the entire note, where the previous edition had near-white solid color. But one exception to the rule is the 2000 edition of 500 tögrög.
  4. High value notes (500 ~ 10,000 tögrög) issued in 2002 and after have a patch on the lower right hand side of obverse as an improved anti-counterfeit device, which was previously only available on the two highest values. The new patch is also more sophisticated than the ones in the 1990s. The two highest values also have their Soyombo symbol upgraded to a hologram.
Current MNT exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY RUB
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY RUB
From OzForex: AUD CAD CHF EUR GBP HKD JPY USD CNY RUB
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD CNY RUB
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD CNY RUB

Purchasing power

See also

References

  1. ^ WSJ article
  2. ^ Bank of Mongolia. "History - National Currency - Togrog". Archived from the original on 2007-11-12. http://web.archive.org/web/20071112223613/http://www.mongolbank.mn/web/guest/banknotes/history. Retrieved 2007-12-15. 

External links

Preceded by:
Mongolian dollar
Ratio: 1 tögrög = 1 Soviet ruble. Rate to dollar unknown.		 Currency of Mongolia
1925 –		 Succeeded by:
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