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10 Mongolia Tugrik
The Togrog or tugrik (Mongolian Cyrillic: төгрөг, Mongolian script: ᠲᠥᠭᠦᠷᠢᠭ, transcription: tögürig; sign: ₮; code: MNT) is the official currency of Mongolia. It was historically subdivided into 100 möngö (мөнгө / ᠮᠥᠩᠭᠦ).
In 2010, the tögrög rose 15% against the 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. 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”.
The Togrog was introduced on December 9, 1925 at a value equal to one Soviet ruble, where one ruble or tögrög was equal to 18 grams (0.58 ozt) of silver. It replaced the Mongolian Dollar and other currencies and became the sole legal currency on April 1, 1928. Mongo coins are no longer in circulation as currency, owing to their negligible value. Today, they are sold online and to tourists as collectables.
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