Tughrik refers to the unit of currency used in Mongolia. Derived from the Mongolian word "tugrik," it is the official currency of the country. The tughrik is further subdivided into smaller units called mongos (equivalent to a cent or penny). The symbol for tughrik is ₮.
As legal tender, the tughrik facilitates various transactions within Mongolia, allowing individuals to buy goods and services, pay taxes, and settle debts. The Bank of Mongolia is responsible for the issuance of the currency, with banknotes and coins of different denominations currently in circulation.
The banknotes of the tughrik come in various denominations, such as 1, 5, 10, 20, 50, 100, 500, 1,000, 5,000, 10,000, 20,000, 50,000, and 100,000 tughrik bills. Coins are available in smaller denominations, with values like 20, 50, 100, and 200 tughriks.
The tughrik's value can fluctuate against other currencies due to market forces, with exchange rates being determined by global foreign exchange markets. When traveling to Mongolia, it is necessary to exchange foreign currency for tughriks to engage in everyday transactions.
Overall, the tughrik serves as Mongolia's official legal tender, facilitating economic activities and monetary transactions within the country.
