MNT information
About Mongolian Tugrik (MNT)
The Mongolian Tugrik (MNT), introduced in 1925, is more than just the official currency of Mongolia; it represents the country's rich cultural heritage and its journey through economic transitions. It is commonly abbreviated as MNT and represented by the symbol ₮. As Mongolia navigated its path from a Soviet-style economy to a market-oriented system, the Tugrik has played a pivotal role in the nation's socio-economic development.
Historical Background
The introduction of the Tugrik was a significant step in Mongolia's early years as an independent nation, symbolizing its move away from the Chinese and Russian currencies that had previously circulated. The Tugrik's establishment was part of Mongolia's broader efforts to assert its national sovereignty and economic independence.
Design and Symbolism
The design of the Mongolian Tugrik reflects the country's deep historical roots and nomadic culture. Banknotes and coins feature images of historic Mongolian leaders like Genghis Khan and Damdin Sükhbaatar, along with traditional symbols and motifs that celebrate Mongolia's rich history and cultural identity. These designs are not merely for financial transactions; they are imbued with national pride.
Economic Role
The Tugrik plays a crucial role in Mongolia’s economy, characterized by its mining sector, agriculture, and growing service industry. As the primary medium of exchange, it facilitates domestic trade and is vital for everyday economic activities, from urban centers to rural nomadic communities.
Monetary Policy and Inflation
Managed by the Bank of Mongolia, the Tugrik has faced challenges like inflation and currency devaluation, particularly during times of economic uncertainty. The bank's monetary policies aim to stabilize the Tugrik, which is crucial for maintaining economic confidence and fostering investment.
International Trade and the Mongolian Tugrik
The Tugrik’s exchange rate plays a significant role in international trade, particularly for Mongolia's key exports like copper, coal, and cashmere. A stable Tugrik is important for maintaining competitive export prices and fostering a favorable trade balance.
Remittances and the Economy
Remittances from Mongolians working abroad, primarily in South Korea and Japan, are a vital source of foreign income. These remittances, converted into Tugriks, support many families and contribute to the national economy.
PNP to MNT conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | ₮6,936.66 | 0.0200% / 0.0320%VIP 7 |
How to buy Penpie
Buy PNP (or USDT) for MNT (Mongolian Tugrik) offers
Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
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Sell PNP (or USDT) for MNT (Mongolian Tugrik) offers
Merchants (trades/completion rate) | Price | Amount/limit High to low | Payment methods | Zero fees Action |
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What factors influence the conversion rate of Penpie to Mongolian Tugrik?
Penpie to Mongolian Tugrik is rising this week.Conversion tables
The exchange rate of Penpie is increasing.PNP to MNT
MNT to PNP
Today vs. 24 hours ago
Amount | 06:44 am today | 24 hours ago | 24h change |
---|---|---|---|
0.5 PNP | $1.06 | $0.9657 | +10.13% |
1 PNP | $2.13 | $1.93 | +10.13% |
5 PNP | $10.63 | $9.66 | +10.13% |
10 PNP | $21.27 | $19.31 | +10.13% |
50 PNP | $106.35 | $96.57 | +10.13% |
100 PNP | $212.7 | $193.13 | +10.13% |
500 PNP | $1,063.49 | $965.66 | +10.13% |
1000 PNP | $2,126.99 | $1,931.32 | +10.13% |
Today vs. 1 month ago
Amount | 06:44 am today | 1 month ago | 1M change |
---|---|---|---|
0.5 PNP | $1.06 | $0.5568 | +90.99% |
1 PNP | $2.13 | $1.11 | +90.99% |
5 PNP | $10.63 | $5.57 | +90.99% |
10 PNP | $21.27 | $11.14 | +90.99% |
50 PNP | $106.35 | $55.68 | +90.99% |
100 PNP | $212.7 | $111.36 | +90.99% |
500 PNP | $1,063.49 | $556.82 | +90.99% |
1000 PNP | $2,126.99 | $1,113.64 | +90.99% |
Today vs. 1 year ago
Amount | 06:44 am today | 1 year ago | 1Y change |
---|---|---|---|
0.5 PNP | $1.06 | $1.15 | -7.29% |
1 PNP | $2.13 | $2.29 | -7.29% |
5 PNP | $10.63 | $11.47 | -7.29% |
10 PNP | $21.27 | $22.94 | -7.29% |
50 PNP | $106.35 | $114.71 | -7.29% |
100 PNP | $212.7 | $229.42 | -7.29% |
500 PNP | $1,063.49 | $1,147.09 | -7.29% |
1000 PNP | $2,126.99 | $2,294.18 | -7.29% |
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