About the AUD/MNT rate
The AUD/MNT rate is how many MNT one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/MNT rate history.
Where else this pair appears: the reverse rate, MNT → AUD, is on the receiving Mongolian tögrög view, and sending Australian dollars to Mongolia is covered on the AUD → MNT transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
A hundred years without a redenomination
The tugrik has been in continuous use for a century, and the Bank of Mongolia's own account of its history contains no redenomination. It was introduced on 22 February 1925 by order of the People's Government, with the power to issue notes vested in the Trade and Industry Bank of Mongolia, and it displaced both a state loan instrument and the assorted foreign currencies then circulating, which had gone out of use by 1929. The Bank lists new banknote series in 1939, 1941, 1955, 1966, 1981, 1983 and 1993 - a series being a redesign, not a change of unit.
One consequence is a denomination range unusually wide at both ends. The currently issued notes run from one togrog, issued in the 1993 series, up to twenty thousand, issued in 2006, with five and ten thousand togrog notes dating from 1995. Very few countries still issue a note of their smallest whole unit alongside one worth twenty thousand of them.
The legal position of those notes is set by statute: Article 8 of the Law on the Central Bank makes tugrik issued by the Bank of Mongolia legal tender accepted at face value in every settlement.
On the rate, the Bank's stated objective is to sustain the stability of the currency in two senses at once, external and domestic - the exchange rate and consumer prices. Its monetary policy guidelines say the exchange rate is to be determined according to supply and demand in the foreign exchange market and in a flexible manner reflecting fundamental macroeconomic factors, and then add the clarification that matters: this should not be considered a fixed nominal exchange rate, but rather a flexible one without sudden fluctuations.
Sources: Bank of Mongolia, history of modern Mongolian currency togrog · Bank of Mongolia, banknotes · Bank of Mongolia, currency regulations under the Law on the Central Bank · Bank of Mongolia, main objective of monetary policy