Payments in Mongolia

Mongolia's currency is the tögrög (MNT, symbol ₮). In Ulaanbaatar you can pay by card or mobile QR code almost everywhere, but in the countryside cash is still essential. Most travellers use a mix: a bank card for hotels, restaurants and shops in the city, and tögrög in cash for rural markets, small shops, homestays and tips. This guide explains how payments work so you can plan your money before you go.

The tögrög and cash

Prices in Mongolia are almost always quoted and paid in tögrög. Banknotes run from 1 to 20,000 tögrög; the smallest notes are rarely used and coins are uncommon. Carry a mix of 1,000, 5,000 and 10,000 notes, since small rural shops may not have change for large notes. Exchange rates move, so check the current rate shortly before your trip; as a rough guide, one US dollar was worth around 3,400–3,600 tögrög in 2025.

You can exchange money at banks and licensed exchange offices in Ulaanbaatar and at the airport. US dollars, euros, Chinese yuan, Korean won and Russian roubles are the most widely accepted. Bring clean, undamaged notes: torn, marked or very old foreign notes may be refused or exchanged at a lower rate. Exchange options in provincial centres are limited, so change enough tögrög in the capital before heading out.

Cards and ATMs in Mongolia

Visa and Mastercard are widely accepted in Ulaanbaatar at hotels, supermarkets, larger restaurants and shops, and increasingly in provincial centres. UnionPay is accepted in many places; American Express is less common. Contactless payment is usual in the city.

ATMs of major banks, such as Khan Bank, Golomt Bank, Trade and Development Bank, State Bank and XacBank, are common in Ulaanbaatar and found in provincial and some district centres. Most accept foreign cards, but daily withdrawal limits and fees vary by bank and by your card issuer. Tell your bank you are travelling, and carry a second card in case one is blocked or retained by a machine.

QR codes and mobile payments

Mongolians use mobile banking and QR payments for almost everything, from cafés to taxis. Services such as QPay and the banks' own apps let customers scan a code to pay. These usually require a Mongolian bank account, so most short-term visitors cannot use them directly. Ask a bank branch or your hotel which options currently work for foreign visitors. Merchants who display a QR code will almost always accept a card or cash as well.

Paying tour operators and camps

Tour operators usually ask for a deposit when you book and the balance before or at the start of the tour. International bank transfers and card payments, sometimes with a card fee, are common. Ask for an invoice that states the amount, currency and inclusions, and pay only into a company account, not a personal one, unless you have confirmed the arrangement. Ger camps booked through an operator are usually prepaid; independent travellers often pay camps in cash.

Practical tips

Keep an emergency reserve of cash, in tögrög and a clean foreign currency, in a separate place. Tipping is not a traditional custom in Mongolia, but on tours it is customary to tip guides and drivers at the end, and many restaurants in Ulaanbaatar add a service charge. Bargaining is normal at markets such as Narantuul, but not in shops with fixed prices. Keep receipts for large purchases such as cashmere, and check customs rules before taking antiques out of the country.