Flags, Symbols, & Currencies of Mongolia

The current flag of Mongolia was adopted on January 12, 1992, and resembles the old flag used between 1945 and 1992, except that the current flag has a different shade of blue and do not have the star atop the national emblem. The flag's current color standard was set in July 2011, almost 20 years after its adoption. 

The flag of Mongolia The flag of Mongolia consists of three, equal vertical bands of red (hoist side), blue, and red, with the national emblem centered on hoist-side red band. national emblem, locally known as "soyombo" is  a columnar arrangement of abstract and geometric representation for fire, sun, moon, earth, water, and the yin-yang symbol. The red color, once used to represent Communism, today represents progress and prosperity, and the blue represents the sky. The national flag has a height to length proportion of 1:2

Historical flags of Mongolia

Mongolia adopted the first national flag in 1911, following the fall of the Chinese Quing dynasty and subsequent declaration of the Mongolian independence. The flag was yellow in color and featured a Soyombo, lotus flower, letter "E" and "Bam,", silk tail, and religious prayer text. In 1919, the Chinese troops occupied Mongolia and revoked its autonomy. The following year, China introduced its five-stripped flag and banned the use of the yellow Mongolian flag. Hoever, the Revolution of 1921 saw the restoration of Mongolia's independence and the readoption of the yellow flag. 

In 1924, Mongolian People's Republic was proclaimed, with a new flag introduced. The flag had a red field with the state emblem in the middle. In 1940, Mongolia adopted a second constitution, and with it, a new flag was adopted. The new flag featured a red field with new emblem in the middle and "Mongol People's Republic" written on either side of the emblem. At the end of the Second World War, a new flag was adopted. The flag was tricolor of red-blue-red vertical bands with Soyombo centered on hoist-side red. At the top of Soyombo was a golden star. 

National Anthem

• Anthem Title: Môngôl Ûlsiin toriin dûûla (National Anthem of Mongolia)
• Music composer: Luvsanjambyn Mördorj and Bilegiin Damdinsüren
• Lyricist: Tsendiin Damdinsüren.
• Date of Adoption: 1950

The national anthem of Mongolia was previously known as State Anthem of the Mongolian People's Republic." It was composed in 1950 by Luvsanjambyn Mördorj and Bilegiin Damdinsüren, with Tsendiin Damdinsüren. writing the lyrics. The anthem was officially adopted in 1950 to replace the old anthem, "Mongol Internationale" used between 1924 and 1950. The lyrics of the current anthem were slightly changed in 1961 to, among other things, remove names of some of the Soviet and Mongolian leaders. However, the 1950 lyrics were restored, with only the names of Lenin, Stalin, Sükhbaatar, and Choibalsan removed. 

The Mongolian currency, known as Mongolian Tugrik/tögrög, has been gaining value against the US dollar making it a strong hub for investment, especially for the neighboring China and Russia. The mineral deposits in the country have attracted Foreign Direct Investment which has helped develop the banking and financial sectors. Mongolian tögrög has been the official currency of Mongolia since 1925. 

Coins and Banknotes

The first coins, mongo coins, were introduced in 1925 in the denominations ranging from 1 to 5 made of copper, 10 and 20 made of silver, and 50 was a mix of silver and copper. However, over the years the coins were minted from aluminum, bronze, cupronickel, and gold. The shape of the coins denotes the full moon in the Mongolian culture. Just like the coins, the tugrik notes resembled the Soviet ruble during the period of the Mongolian People's Republic. They were similar in terms of color themes, design, and they included the denominations ranging from 1 to 100 tögrög. The different denominations had different colors and symbols. 10, 20, and 50 Mongo were pink, yellow, and brown respectively with each having symbols of archery, wrestling, and horse riding, an important part of the cultures in the country. These denominations are no longer in use due to their low value against the US Dollar.

The Purchasing Power of Mongolian Currency

The current denominations have different purchasing powers such as the 10 tögrög can purchase water, 100 tögrög can purchase one lollipop, and 200 can purchase just a few sweets. 500 tögrög is the average fare paid on public transport, 2500 tögrög can afford the cheapest meal at the Tsai Nii gazar while 3500 tögrög is the average price for a packet of cigarettes. 20,000 tögrög would pay a taxi fare around the city center and 40,000 tögrög is the average price of accommodation in a tourist hostel in Ulaanbaatar.

Historical Currencies of Mongolia

The Mongolian dollar was used between 1921 and 1925, and were issued in denominations of 10, 20, 50 and 100 dollars. The currency was meant to replace the Chinese yuan but this did not happen since the Europeans considered it worthless. The dollar was finally replaced by tögrög in 1925 at a rate of one Soviet ruble, with 1 tugrik equaling 18 grams of silver. . The tögrög is denoted as ₮ and abbreviated as MNT under the ISO 4217 currency code. Historically, the tögrög was subdivided into 100 Mongo. The Mongo are no longer in circulation due to a reduction in their value and are normally issued to tourists as collectibles as novelties. In 2010, the tögrög recorded the world’s highest increase in exchange rate against the USD at 15%. Due to the fall in investment and mining revenue, the rate is currently down by 24%. The importation of local and foreign currency in Mongolia has been limited to 815 Tugrik.