Mongolian Currency and Money Exchange

Trip Preparation

Currency

Currency unit	Tugrik (Tg, MNT)
Guide to the rate	Rates change daily, so please check the current rate.
Banknotes	11 kinds: 1, 5, 10, 20, 50, 100, 500, 1,000, 5,000, 10,000 and 20,000 tugrik
Coins	Coins exist, but because of inflation they are hardly in circulation. The unit "mongo", and 1- and 5-tugrik banknotes, are also hardly used.

Exchanging Money in Mongolia

At Chinggis Khaan International Airport, and at banks, exchange offices and hotels in town, you can exchange foreign banknotes for the local currency, the tugrik.
Small banknotes often get a poor rate, and rates differ somewhat by exchange office. Generally, the rate gets better in the order of hotel, bank, exchange office.
When exchanging, you may be asked to show your passport.
There are banks in the countryside too, but to be safe it is reassuring to exchange in Ulaanbaatar. Outside the center of provincial towns, there are many places where only cash can be used. Decide the amount to exchange according to your itinerary.
Opening hours differ by place, but are basically Monday to Friday, about 9:00–18:00. Some places are open on Saturday and Sunday too.
Check the banknotes you receive on the spot to make sure there is no miscalculation.

Payment method

Credit Cards	They can be used in many places in urban areas, but there are many places in the countryside where they cannot. Acceptance is in the order of Visa, Mastercard, JCB. Benefits such as overseas cash advances, overseas travel insurance and free use of airport lounges may be included. When paying with an IC card (with IC chip), a PIN (personal identification number) is required instead of a signature. Check with your card issuer before leaving home.
Debit Cards	Usage is the same as a credit card, but in principle payment is not deferred and is debited immediately from your deposit account at the issuing financial institution. Because you cannot spend more than your account balance, it has the advantage of making it easy to manage your budget. You can also withdraw local currency at local ATMs.
Overseas Prepaid Cards	One of the convenient cards that remove the trouble and worry of exchanging foreign currency. There is no screening when the card is made. Before departure, charge (deposit) money at a convenience-store ATM or similar, and within the balance you can withdraw local currency and shop at ATMs at your destination. Various fees apply, but there is no worry about overspending or carrying large amounts of cash.
ATM Cash Advances	At ATMs with the "VISA" or "PLUS" mark, you can withdraw cash in local currency using a credit card. The specified interest is added, but the rate is about the same as when exchanging cash.

If You Lose Your Card

Contact the card issuer immediately and have use stopped. It is reassuring to keep a note of the card company's contact number just in case.

Our Guidance

On our tours, the guide also advises you on exchange and payment. In the countryside there are many cash-only places, so please prepare enough cash to match your tour schedule.

Also read:
Visa and Entry Safety Measures Climate and What to Pack Currency and Money Exchange Apps and Internet Trip Preparation

Please feel free to ask us about Mongolia travel and quotes.
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