Foreign Exchange Guide to Mongolia
In this guide we review :
- Mongolian yugrik info - general info about the Mongolian yugrik
- Buying Mongolian yugrik cash online - travel money for Mongolia
- Sending money to Mongolia - save on Mongolian yugrik bank transfers to Mongolia
- Mongolian yugrik exchange rates - latest info & charts.
Mongolian yugrik (MNT) general currency information
Mongolia Trip Checklist
Travel money for Mongolia
Save money and time by Ordering your Mongolian yugrik online from Travelex, you get better rates and can pick up the MNT cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Mongolian yugrik otherwise you may get much worst exchange rates.
Sending money to Mongolia
When sending money to Mongolia it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Mongolian yugrik amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted MNT amount will be transfered to the recipient account you specify in Mongolia.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Mongolian yugrik deposited into the recipient bank account in Mongolia and less margins and fees kept by the banks!