Tugrik - MNT

AAA

DEFINITION of 'Tugrik - MNT'

The official currency of Mongolia. The tugrik was unveiled on December 19, 1925 as the country's first official currency. Upon introduction it was equivalent to one Soviet ruble. Three years late, in 1928, it replaced other existing foreign currencies in use to become the country's sole legal currency.

Also known as the tögrög and abbreviated as MNT.

INVESTOPEDIA EXPLAINS 'Tugrik - MNT'

The tugrik is only issued in notes, which are printed in Great Britain. It was initially subdivided into 100 möngö coins, however those coins are no longer minted. Today the highest denomination tögrög note is 20,000 and the lowest value denomination is 10. Mongolbank, the Central Bank of Mongolia, issues the tugrik.


RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Authorized Forex Dealer

    Any type of financial institution that has received authorization ...
  3. RUB (Russian Ruble)

    The currency abbreviation the Russian ruble (RUB), the currency ...
  4. Currency Basket

    A selected group of currencies in which the weighted average ...
  5. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  6. Currency Pair

    The quotation and pricing structure of the currencies traded ...
RELATED FAQS
  1. Is credit a form of fiat money?

    To understand why credit is a form of fiat money, one must first understand what money is. At its most basic level, money ... Read Full Answer >>
  2. What is the difference between fiat money and representative money?

    Fiat money is physical money (paper money and coins), while representative money is something that represents intent to pay ... Read Full Answer >>
  3. What is the difference between fiat money and legal tender?

    Fiat money does not have any intrinsic value. What value it has depends on public confidence in the currency's issuer. Legal ... Read Full Answer >>
  4. Is fiat money more prone to inflation than commodity money?

    The value of fiat money is based largely on public faith in the issuer. Commodity money's value is based on the material ... Read Full Answer >>
  5. What developed countries have the greatest exposure to the automotive sector?

    The developed countries with the greatest exposure to the automotive sector are Japan and Germany. This is based on exposure ... Read Full Answer >>
  6. Will M1 ever become obsolete?

    The form of M1 money in an economy may change over time, but M1 money will continue to exist for the foreseeable future; ... Read Full Answer >>
Related Articles
  1. Forex Education

    The Fundamentals Of Forex Fundamentals

    Charting is not the only way to analyze the foreign-exchange market. Learn how to apply fundamental analysis to the economic indicators.
  2. Forex Education

    Forex Trading The Martingale Way

    Martingale's mechanics involve an initial bet; however, each time the bet becomes a loser, the wager is doubled such that, given enough time, one winning trade will make up all of the previous ...
  3. Options & Futures

    A Primer On The Forex Market

    Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers.
  4. Forex Education

    Forex: Demo Before You Dive In

    All trading platforms have benefits and drawbacks - master the fake trade before making a real one.
  5. Forex Education

    Forex: Wading Into The Currency Market

    We go over the ground rules and available resources needed for this undertaking.
  6. Forex Education

    Forex Courses For Beginners

    Trading courses can provide a trader with all the tools required for a profitable experience.
  7. Forex Education

    How To Profit From Interventions In The Forex Market

    The forex market can be extremely profitable. Learn how to spot an intervention and trade when it's occurring.
  8. Forex Education

    Commodity Prices And Currency Movements

    Find out which currencies are most affected by fluctuations in gold and oil prices, and improve your trading.
  9. Forex Education

    Top 7 Questions About Currency Trading Answered

    Whether you're puzzled by pips or curious about carry trades, your queries are answered here.
  10. Forex Education

    Forex Basics: Setting Up An Account

    The line between profitable forex trading and ending up in the red may be as simple as choosing the right account.

You May Also Like

Hot Definitions
  1. Fixed-Income Arbitrage

    An investment strategy that attempts to profit from arbitrage opportunities in interest rate securities. When using a fixed-income ...
  2. Venture-Capital-Backed IPO

    The selling to the public of shares in a company that has previously been funded primarily by private investors. The alternative ...
  3. Merger Arbitrage

    A hedge fund strategy in which the stocks of two merging companies are simultaneously bought and sold to create a riskless ...
  4. Market Failure

    An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers ...
  5. Unsystematic Risk

    Company or industry specific risk that is inherent in each investment. The amount of unsystematic risk can be reduced through ...
  6. Security Market Line - SML

    A line that graphs the systematic, or market, risk versus return of the whole market at a certain time and shows all risky ...
Trading Center