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The tögrög 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). Currently, the lowest denomination in regular use is the 10-tögrög note, and ...
A joint Mongolian-Russian bank, called the "Trade and Industry Bank of Mongolia" (Bank of Mongolia) was opened on June 2, 1924 with head office in Urga and a single branch in Altanbulag. At that time, the bank's capital was 260000 yanchaan (the currency of the period). It operated with 22 employees, 18 of which were Russian specialists and 4 of ...
In December 1925, it began issuing Mongolia's own currency, the tögrög ('round'), in silver coins of one tögrög subdivided into möngö. It became the sole legal currency in 1928. The bank was transferred to the Mongolian government in 1935, and renamed the State Bank of the Mongolian People's Republic in 1954.
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Mongolia [b] is a landlocked country in East Asia, bordered by Russia to the north and China to the south. It covers an area of 1,564,116 square kilometres (603,909 square miles), with a population of 3.5 million, making it the world's most sparsely populated sovereign state.
In mid-March 2018, president Khaltmaagiin Battulga appealed to U.S. President Donald Trump via telegram to more trade relations, saying an economic downturn threatened to destabilize Mongolia, and that although Mongolia is an "oasis of democracy", this "does not contribute to economic development" in a region where authoritarianism (China and Russia) in on the rise.
Mongolia joined the World Trade Organization (WTO) in 1997. [16] The international donor community pledged over $300 million per year in the last Consultative Group Meeting, held in Ulaanbaatar in June 1999. Recently, the Mongolian economy has grown at a fast pace due to an increase in mining and Mongolia attained a GDP growth rate of 11.7% in ...
Mongolian President Bagabandi visited Moscow in 1999, and Russian President Vladimir Putin visited Mongolia in 2000 [24] in order to sign the 25-point Ulaanbaatar Declaration, reaffirming Mongol-Russian friendship and cooperation on numerous economic and political issues. Putin visited Mongolia in September 2024, his first trip to an ICC member ...