Mongolian tögrög

Mongolian tögrög
Монгол төгрөг (Mongolian)
20,000 tögrög
ISO 4217 code	MNT
Central bank	Bank of Mongolia
Website	www.mongolbank.mn
User(s)	Mongolia
Inflation	14.4%
Source	Bank of Mongolia homepage, December 2012.
Subunit
1/100	möngö (мөнгө)
Symbol	₮
Plural	tögrög
möngö (мөнгө)	möngö
Coins	20, 50, 100, 200, 500 tögrög
Banknotes	1, 5, 10, 20, 50, 100, 500, 1,000, 5,000, 10,000, 20,000 tögrög

The tögrög or tugrik (Mongolian: ᠲᠥᠭᠦᠷᠢᠭ᠌, 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. In unicode, the currency sign is U+20AE ₮ TUGRIK SIGN.

In 2010, the tögrög rose 15% against the dollar, due to the growth of the mining industry in Mongolia.^[1] However, its exchange rate eroded by 24% from early 2013 to June 2014 due to falling foreign investment and mining revenue.

Etymology

The word tögrög (төгрөг) refers to "circle", or a "circular object" (i.e. a coin), but now is rarely used outside of referring to the currency, with the exception of the phrase tögrög sar (төгрөг сар), meaning "full moon".

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
Images	Series	Composition	Obverse	Reverse	Date recalled	Valueless since	Script	Minted in	Calendar used
	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
	1937	1-5 möngö: aluminium bronze 10-20 möngö: cupronickel	Soyombo		1960	1970	Mongolian		Mongolian Year 27
	1945	1-5 möngö: aluminium bronze 10-20 möngö: cupronickel	coat of arms, "Бүгд Найрамдах Монгол Ард Улс" (People's Republic of Mongolia)		1970	1970	Cyrillic		Mongolian Year 35
	1959	Aluminium			1990	1990		P.R. China	Common Era
,	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	Common Era
	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	coat of arms, full state title, value	6 designs, such as Karl Marx, Soviet-Mongolian space flight, etc.	?	?		Mongolia	Common Era

Current Coins
Image		Value	Technical parameters				Description			Date of first minting
Obverse	Reverse	Value	Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse	Date of first minting
		20 tögrög	17.5 mm	1.5 mm	0.78 g	Aluminium	Milled	Value	Soyombo	1994
		50 tögrög	23 mm	1.8 mm	16.8 g	Aluminium		Value
		100 tögrög	22 mm	1.5 mm	3.84 g	Cupronickel		Value, Janraisig Temple
		200 tögrög	25 mm	1.7 mm	6.2 g			Value, the Government House
		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, 3, 5, 10, 25, 50, 100 tögrög unless stated otherwise. The color for each value is

1 tögrög: brown
3 tögrög: green
5 tögrög: blue
10 tögrög: green
20 tögrög: red
25 tögrög: lilac
50 tögrög: green
100 tögrög: brown

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
Image	Series	Obverse	Reverse	Date recalled	Valueless since	Script	Calendar used	Remark
	1925	Soyombo, value	Value	1940	1966	Mongolian	Common Era	2 tögrög in green instead of 3 tögrög
	1939	Soyombo, Sükhbaatar	Value	1955	1966	Mongolian	Common Era and Mongolian Year 29	25 tögrög in brown
	1941	Coat of arms, Sükhbaatar		?	?	Both	Common Era and Mongolian Year 31	25 tögrög in brown
	1955	Coat of arms, Sükhbaatar		1966	1966	Cyrillic	Common Era	25 tögrög in blue on obverse, brown on reverse
	1966	Coat of arms, Sükhbaatar except 1 tögrög	Value for 1-25 tögrög, the Government House for 50 and 100 tögrög	—	—	Both
	1981, 83	Coat of arms, Sükhbaatar except 1 tögrög	As above, except industrial theme for 20 tögrög	—	—	Both		20 tögrög in green instead of 25 tögrög

1993 Series
Image¹		Value	Dimensions	Main Color	Description			Date of printing²	Usage
Obverse	Reverse	Value	Dimensions	Main Color	Obverse	Reverse	Watermark	Date of printing²	Usage
		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
		1 tögrög ( neg )	115 × 57 mm	Yellow-brown	Lion	Soyombo, Paiza	Genghis Khan	1993, 2008
		5 tögrög ( tavan )	120 × 60 mm	Orange	Sükhbaatar, Soyombo, Paiza	Mountainous landscape and horses eating grass	Genghis Khan	1993, 2008	Rarely used anywhere but in banks
		10 tögrög ( arvan )	125 × 61 mm	Green			Chinggis Khan	1993, 2002, 2009, 2011, 2013³	The smallest commonly used note
		20 tögrög ( horin )	130 × 64 mm	Reddish purple			Chinggis Khan	1993, 2002, 2009, 2011, 2013³
		50 tögrög ( tavin )	135 × 66 mm	Brown			Chinggis Khan	1993, 2000, 2008, 2013³
		100 tögrög ( zuun )	140 × 68 mm	Violet				1993, 2000, 2008, 2013³
		500 tögrög ( tavan zuun )	145 × 70 mm	Green	Chinggis Khan, Soyombo, Paiza	Mongolian yurts in motion		1993, 1997, 2007, 2011, 2013 2000³, 2003⁴
		1000 tögrög ( myangan )	150 × 72 mm	Blue		Mongolian yurts in motion		1993, 1997, 2011, 2013 2003⁴
		5000 tögrög ( tavan myangan )	150 × 72 mm	Pink-purple		"Drinking Fountain" at Genghis Khan's court		1994, 2003, 2013⁴
		10,000 tögrög ( arvan myangan )	150 × 72 mm	Orange		"Drinking Fountain" at Genghis Khan's court		1995, 2002, 2009, 2014⁴
		20,000 tögrög ( horin myangan )		Lime and purple		Nine White Banner		2006, 2009, 2013
For table standards, see the banknote specification table.

Remarks

Images shown are the earliest variations of each value
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.
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.
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 XE:	AUD CAD CHF EUR GBP HKD JPY USD CNY RUB
From OANDA:	AUD CAD CHF EUR GBP HKD JPY USD CNY RUB
From fxtop.com:	AUD CAD CHF EUR GBP HKD JPY USD CNY RUB
From Currency.Wiki:	AUD CAD CHF EUR GBP HKD JPY USD CNY RUB

Chinese equivalent

Main article: arad-un jogos

an arad-un jogos tügürig.

In China, there is a homonymic currency called (arad-un jogos) tügürig, the Mongol name for the Renminbi, which is also divided into 100 mönggü.

Purchasing power

5 tögrög: No longer in common usage
10 tögrög: Almost no purchasable goods, used only for change.
100 tögrög: 1 piece of lollipop
200 tögrög: Couple of lollipops
500 tögrög: Average price for public transport in Ulaanbaatar
2500 tögrög: the cheapest meal at a tsainii gazar, or small restaurant
3500 tögrög: average price of a pack of cigarettes
20,000 tögrög: average price of a taxi ride from Chinggis Khaan airport to the Ulaanbaatar city center (approx. 20 km)
40,000 tögrög: a lodging for one night at a tourist hostel in Ulaanbaatar

(These figures are up to date as of 2015/01/01)

References

↑ WSJ article
↑ Bank of Mongolia. "History – National Currency – Togrog". Archived from the original on 2007-11-12. Retrieved 2007-12-15.

External links

Banknotes of Mongolia, Bank of Mongolia
Website at the Bank of Mongolia with history of Mongolian currency and pictures of tögrög

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

Currency symbols (¤)

Circulating	؋ ฿ ₵ ¢ ₡ $ ₫ ֏ € ƒ ₲ ₴ ₭ ₾ £ / ₤ ₺ ₼ ₦ ₨ ₱ ៛ ₽ ₹ $ ₪ ৳ ₸ ₮ ₩ ¥

Historic	₳ ₢ ₰ DM ₯ ₠ F ℳ ₥ ₧ ℛℳ ₷

Currencies of Asia

Central	Kazakhstani tenge Kyrgyzstani som Tajikistani somoni Turkmenistan manat Uzbekistani som

East	Chinese yuan Hong Kong dollar Japanese yen North Korean won South Korean won Macanese pataca Mongolian tögrög New Taiwan dollar

North	Russian ruble

South	Bangladeshi taka Bhutanese ngultrum Indian rupee Maldivian rufiyaa Nepalese rupee Pakistani rupee Sri Lankan rupee U.S. dollar British Indian Ocean Territory

Southeast	Brunei dollar Burmese kyat Cambodian riel East Timorese centavo Indonesian rupiah Lao kip Malaysian ringgit Philippine peso Singapore dollar Thai baht U.S. dollar Cambodia East Timor Vietnamese đồng

West	Abkhazian apsar unrecognized Afghan afghani Armenian dram Azerbaijani manat Bahraini dinar Egyptian pound Gaza Strip Euro Cyprus Georgian lari Iranian rial Iraqi dinar Israeli new shekel Jordanian dinar Kuwaiti dinar Lebanese pound Nagorno-Karabakh dram unrecognized Omani rial Russian ruble Abkhazia South Ossetia Qatari riyal Saudi riyal Syrian pound Turkish lira UAE dirham Yemeni rial

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