Currency & Payment

Mongolia uses the tugrik (MNT, ₮). Officially it divides into 100 mongo, but the mongo is not used in practice and prices are always in whole tugrik. Notes come in a wide range of denominations, and outside the capital Ulaanbaatar cash is essential.

Change money at banks and licensed exchange offices, most easily in Ulaanbaatar. US dollars, Chinese yuan and euros are the easiest currencies to exchange, and clean, undamaged notes get the best rates. Rates are poor at the airport, so exchange only a small amount there.

In Ulaanbaatar, Visa and Mastercard are widely accepted at hotels, larger restaurants and modern shops. Outside the capital, in the countryside and nomadic areas, cash is essential and cards are rarely usable. Always carry enough tugrik when you leave the city.

ATMs are common in Ulaanbaatar and other towns and accept Visa and Mastercard, but they are scarce in the countryside and may be empty or offline. Withdraw enough cash in the city before travelling. Watch out for fees, and decline home-currency conversion (DCC) for a better rate.

Mobile payment is growing fast in Ulaanbaatar, mostly through local bank apps and QR codes, but these usually require a Mongolian bank account, so visitors cannot easily use them. Rely on contactless cards and cash instead; QR payment is not something tourists can count on.

Tipping was traditionally limited in Mongolia, but it is becoming more common in tourism. Tipping tour guides and drivers is now widely expected on organised trips, and in city restaurants leaving around 10% for good service is appreciated. Tipping is not expected in local eateries or for everyday services.

Mongolia is generally affordable, with cheap local meals and public transport in Ulaanbaatar. Costs rise sharply for organised tours into the Gobi or steppe, which include a driver, fuel and ger-camp stays. Imported goods and Western-style restaurants in the capital are pricier.

Mongolia levies VAT, but a practical tax-refund scheme for tourists is very limited and not widely available at shops. Do not count on claiming VAT back on purchases. If a refund matters to you, confirm the current rules with official sources before you travel.