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ELGATO
ELGATO
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MNT
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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.

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1D7D1M3M1YAll
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Bitgethot-iconcalculator.compare.best
₮1.18
0.0200% / 0.0320%vip-iconcalculator.compare.vip
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$3.33M
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$128.84K
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10.00B ELGATO

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0.5 ELGATO
0.5658
1 ELGATO
1.13
5 ELGATO
5.66
10 ELGATO
11.32
50 ELGATO
56.58
100 ELGATO
113.17
500 ELGATO
565.85
1000 ELGATO
1,131.69

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0.5MNT0.4418  ELGATO
1MNT0.8836  ELGATO
5MNT4.42  ELGATO
10MNT8.84  ELGATO
50MNT44.18  ELGATO
100MNT88.36  ELGATO
500MNT441.82  ELGATO
1000MNT883.63  ELGATO

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0.5 ELGATO$0.0001665$0.0001532
+8.03%
1 ELGATO$0.0003330$0.0003065
+8.03%
5 ELGATO$0.001665$0.001532
+8.03%
10 ELGATO$0.003330$0.003065
+8.03%
50 ELGATO$0.01665$0.01532
+8.03%
100 ELGATO$0.03330$0.03065
+8.03%
500 ELGATO$0.1665$0.1532
+8.03%
1000 ELGATO$0.3330$0.3065
+8.03%

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0.5 ELGATO$0.0001665$0.{4}2195
+424.95%
1 ELGATO$0.0003330$0.{4}4389
+424.95%
5 ELGATO$0.001665$0.0002195
+424.95%
10 ELGATO$0.003330$0.0004389
+424.95%
50 ELGATO$0.01665$0.002195
+424.95%
100 ELGATO$0.03330$0.004389
+424.95%
500 ELGATO$0.1665$0.02195
+424.95%
1000 ELGATO$0.3330$0.04389
+424.95%

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0.5 ELGATO$0.0001665$-0.{4}1208
-14.97%
1 ELGATO$0.0003330$-0.{4}2415
-14.97%
5 ELGATO$0.001665$-0.0001208
-14.97%
10 ELGATO$0.003330$-0.0002415
-14.97%
50 ELGATO$0.01665$-0.001208
-14.97%
100 ELGATO$0.03330$-0.002415
-14.97%
500 ELGATO$0.1665$-0.01208
-14.97%
1000 ELGATO$0.3330$-0.02415
-14.97%

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