The tögrög or tugrik ( Mongolian Cyrillic: , Mongolian script: , transcription: ;

sign A sign is an object, quality, event, or entity whose presence or occurrence indicates the probable presence or occurrence of something else. A natural sign bears a causal relation to its object—for instance, thunder is a sign of storm, or me ...

: ₮;

code In communications and information processing, code is a system of rules to convert information—such as a letter, word, sound, image, or gesture—into another form, sometimes shortened or secret, for communication through a communication ...

: MNT) is the official currency of Mongolia. It was historically subdivided into 100 ( / ). 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 . In 2010, the tögrög rose 15% against the US dollar, due to the growth of the mining industry in Mongolia. 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). Today, it 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 at a value equal to one Soviet ruble, where one ruble or tögrög was equal to of silver. It replaced the Mongolian dollar and other currencies and became the sole legal currency on April 1, 1928. Möngö coins are no longer in circulation as currency, owing to their negligible value. Today, they are sold online and to tourists as collectibles.

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 1992 and inflation surged, möngö coins were abandoned and larger tögrög values introduced.

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 Formerly, all banknotes were printed in the Soviet Union. Modern tögrög banknotes are generally printed in the United Kingdom.

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 used to be printed only on the two highest values. The new patch is also more sophisticated than the ones in the 1990s. The Soyombo symbol was upgraded to a hologram on the two highest values. On series 2018 5000 tögrög, the hologram was changed to an Optically variable ink#Optically Variable Magnetic Ink, OVMI ink.

References

External links

Banknotes of Mongolia
Bank of Mongolia
Website
at the Bank of Mongolia with history of Mongolian currency and pictures of tögrög {{DEFAULTSORT:Mongolian togrog Economy of Mongolia, Togrog Currency symbols Circulating currencies Currencies introduced in 1925