The word "Tugrik" is used to indicate foreign currency that is not freely convertible. Whose currency has the name Tugrik, not everyone knows. In most cases, this word is associated with the broad concept of "money" and is used in a colloquial style.
In this article, we consider what currency units the tugrik replaced. Whose currency is this? When was it put into circulation?
Tugriki is the currency of which country?
Tugrik is the monetary unit of Mongolia. She entered the market relatively recently. Its name comes from the words "coin", "round." One Tugrik consists of one hundred mungu, although the latter have gone out of circulation today and are not used. The Mongolian currency is designated as the letter "T", crossed out by two thin parallel lines at an angle of about 40 degrees to the vertical.
At one time, Mongolian dollars were replaced by the Tugrik (whose currency is discussed above). The Tugrik code is ISO 4217. The official abbreviation is MNT.
Mongolia Monetary History
When the Mongol Empire was formed, Genghis Khan introduced silver and gold coins into circulation. In 1227, the first Mongolian paper money appeared. Already in 1236, a new monetary reform involved the withdrawal of various coins in size, value and form. Subsequently, they were smelted into coins of the same size and weight.
In 1253, the Mongolian authorities created a monetary department, which established money circulation in the ways that are still used. But, unfortunately, cultural and economic achievements have been forgotten for many centuries of oppression by the Chinese Qing Dynasty. Only in 1921, after an victory in the revolution, independent Mongolia was able to begin to establish a monetary system.
The appearance of the tugrik
When the people's government came to power, measures were taken to stabilize the economic and political system. First of all, one of the measures was the creation of a financial system. In the 1920s, monetary reform took place in Mongolia. They established the National Bank, and then replaced the Chinese Liang with their national currency.
Coins with face values of 1, 2, 5, 10, 15, 20, 50 mungu and 1 tugrik were issued into circulation. At the same time, along with banknotes in circulation were coins of silver 18 grams and 900 samples. All Mongolian banknotes of that time were produced in the USSR. Paper banknotes were printed in Moscow on the State Sign, and coins were minted on the famous Mint in Leningrad. Tugrik replaced the banknotes that were previously in circulation: Chinese yuan, Russian rubles and various monetary substitutes, for example, silk scarves, fur and tea.
Modern Mongolian currency
Having understood what Tugriks are, whose currency it is and how it appeared, you need to get acquainted with modern Mongolian banknotes. To date, in the monetary circulation of Mongolia there are coins of the following denomination: 20 tugriks, 50, 100, 200, as well as 500 tugriks. The range of face value of banknotes is wider - it is 1, 5, 10, 50, 100, 500, 1000, 5000, 10000 and 20,000 tugriks.
On banknotes, the face value of which is 100 or less Tugriks, Suhe-Bator, who was the leader of the people's revolution, is depicted. On the remaining banknotes you can see Genghis Khan - the founder of the Mongol Empire. Portraits of historical figures on banknotes are located on the left in an oval-shaped frame. Under the frame is a national pattern. Soyombo is depicted on the right - this is a symbol of the people of Mongolia, next to it paiza is a symbol of power.
As for the coins, the obverse of all the tugriks shows sambo, and the year of issue is indicated below. The reverse, depending on the face value, depicts the Maggid Zhanraisig temple, Suhe Bator and the government building.
Like all modern banknotes, the Tugrik also has protection against counterfeiting (watermarks, security thread, microtext and hidden images). Whose currency is so diverse in colors yet? It is practiced by many countries, but the Mongolian currency stands out. 10 and 500 tugriks have green reverse, 20 - red, 50 - brown, 100 and 20,000 - purple, 1000 - blue, 5000 - pink, nominal value of 10,000 - orange.
Unofficially, American dollars are widely spread in Mongolia. As for Russian rubles, they are sometimes accepted in the markets and in some stores.