Q: Money, Credit Cards, ATMs?

Q: What is Mongolian Currency?
A: The official currency is the Tugrug (MNT=₮). Denominations come in 20.000₮, 10.000₮, 5.000₮, 1.000₮, 500₮, 100₮, 50₮, 20₮ and 10₮.
Visitors are advised to carry credit cards - Visa, MasterCard, American Express and Union Pay-- and traveler’s checks that can be accepted by most hotels and major stores and can be exchanged for cash of MNT.


Q: Will my credit card be accepted in Mongolia?
A:
Major credit cards are usually accepted by most large hotels and restaurants in Ulaanbaatar and other large cities, such as Visa, Master, Diner's club, AMEX and JCB card of Japan. However smaller establishments may not have credit card facilities. Ensure you have other payment options when visiting small shops and markets, and when travelling through countryside.


Q: Can I use my credit card on all the ATMs in Mongolia?
A:
ATMs are ubiquitously found in Mongolia nowadays, not only inside the banks, also on the streets, star hotels, shopping malls, subway stations, post offices and flocks of different locations. However, international credit cards can only function on those ATMs with the same sign on your card, such as VISA, MASTER, AMEX etc. Besides, there are varying limits on the sum of the money allowed to be withdrawn, which is normally 900.000₮ in one day.


Q: What’s the exchange rate between Mongolian MNT and US dollar?
A:
The official exchange rate at this time (April 2015) is 1.980₮ to 1 U.S dollar, the latest rate can be checked on Bank of Mongolia's web site www.mongolbank.mn/eng/dblistofficialdailyrate.aspx . But the actual rate varies slightly in different banks and facilities while you exchange the money.
Currency exchange services are available at airport and train station, most 4 and 5-star hotels and central business areas in certain cities.


Q: Can I use US dollars or other foreign currencies in Mongolia?
A:
Foreign currencies are not allowed to be used and won't be accepted in stores in Mongolia.
What can I do about the local moneys should I got some left when my tour ends?
You can exchange them back to foreign currencies. This can also be done at the banks and exchange points at airport and train station.