Bank of Mongolia Banknotes | WorldBanknotes.eu

The Bank of Mongolia (Монгол Улсын Төв банк) operates as the central monetary authority overseeing a system shaped by political transition, notably defined by the shift from Sükhbaatar to Chinggis Khaan banknote iconography.

Quick Facts

Country: Mongolia

Currency: Mongolian Tögrög, Mongolian Möngö

Local name: Монгол Улсын Төв банк

Institutional Identity

The bank operates as Mongolia’s central monetary authority, evolving from a Soviet-style monobank system into an independent institution managing currency issuance, monetary policy and financial stability within a resource-driven economy.

Historical Evolution

Established in 1924, the Bank introduced the tögrög in 1925; until 1990, banknotes prominently featured Damdin Sükhbaatar and Cyrillic inscriptions, reflecting socialist alignment, before a complete post-1990 redesign replaced these with Chinggis Khaan, marking a decisive ideological and cultural shift.

Design Philosophy

Mongolian banknotes are anchored by the sacred Soyombo national symbol and intricate “must” ornamentation, combined with portraits of Chinggis Khaan, nomadic scenes, paiza tablets and architectural motifs; high-denomination 20,000 and 50,000 tögrög notes are produced by Giesecke+Devrient with advanced colour-shifting elements and precise engraving.

For collectors

For collectors, the Bank of Mongolia represents a clear two-era narrative, from scarce socialist Sükhbaatar issues to technologically advanced Chinggis Khaan series, where the presence of the Soyombo symbol, nomadic iconography and high-denomination G+D printings creates strong visual and historical distinction.