What is the official currency of Mongolia, named from a word meaning “round”?

The Mongolian tögrög is the official currency of Mongolia, and its name comes from a Mongolian word meaning “round.”

Mongolia introduced the tögrög in 1925, replacing a monetary system that had included foreign currencies, silver and other forms of payment. Its establishment marked an important step in creating a national currency for the Mongolian People’s Republic. The currency is also transliterated as tugrik or tögrög, so English-language sources may show several spellings.

The tögrög is divided into 100 möngö, although möngö coins are no longer used in everyday transactions. The Bank of Mongolia is responsible for issuing the country’s banknotes and coins. Modern banknotes commonly feature important figures and national imagery from Mongolian history.

The tögrög is sometimes confused with the currencies of other former socialist states in Central Asia. Mongolia’s currency is distinct from Kazakhstan’s tenge, Kyrgyzstan’s som and Uzbekistan’s soʻm, even though all circulate in the same broad region.