Along with the continuous development of bilateral economic and trade relationship as well as the mutual personnel exchange of the two countries in the end of last century, the exchange between RMB and local currency Tugrik is expanding. First focused on individuals, then gradually to fully opened exchange. RMB enjoys a great popularity in Mongolia since the new century, and has now been widely used.

In Ulan Bator, capital of Mongolia, you can exchange RMB either in Bank or at all the currency exchange places.

According to a staff member of an exchange place, the exchange amount of RMB always exceeds USD.

At the currency exchange places and various banks of Ulan Bator, the exchange rate of Tugrik to USD is based on the rate of RMB to USD. At present,the exchange rate of Tugrik 1 to USD and RMB is 1425 and 210 respectively.

At the present time, customers can purchase things directly through RMB in the shops no matter large or small in Ulan Bator .

It is a widely accepted practice for many Mongolian residents to deposit more RMB in recent years. For RMB is more stable and convenient than USD. Many residents of Mongolia always purchase goods in Beijing, Hohhot and Erlianhot, basically RMB is what always in their pockets.

The amount of carrying RMB to Mongolia for Chinese people is unrestricted for the good reputation of RMB and the definite need of Mongolian residents, as long as they go through the formalities.

Many banks of Mongolia have the RMB deposit and telegraphic transfer operations today.

Comments (0)

Subscribe to this comment's feed