Currency Basics:

• Official Currency: Mongolian Tugrik (MNT).
• Denominations: Bills come in 10, 20, 50, 100, 500, 1,000, 5,000, 10,000, and 20,000 Tugriks. Coins are rarely used.

Exchange Tips:

• Currency exchange is available at banks, official exchange counters, and major hotels.
• Bring USD or EUR for easy exchange.
• Avoid exchanging money on the street for security reasons.

Payments:

• Cash: Preferred in rural areas and small shops.
• Cards: Visa and MasterCard are widely accepted in Ulaanbaatar, but less common in rural areas.
• Mobile Payments: Digital wallets like “T Money Mongolia” or other local apps are increasingly popular.

ATMs:

Available in major cities but may charge foreign transaction fees. Withdraw Tugriks for daily use.

Tipping:

Tipping is not a traditional custom but is appreciated in tourist areas and for services like guides or drivers (5–10% is common).

Helpful Tips:

1. Carry small denominations for convenience, especially in rural areas.
2. Keep receipts from currency exchanges for easy reconversion when leaving Mongolia.
3. Plan ahead for areas without ATMs or card services.

Understanding these basics will help you manage your finances effectively during your Mongolian adventure!