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100 000 Tögrög 100th anniversary of the modern banking system in Mongolia

Issuer Bank of Mongolia
Year 2021 (2021-2025)
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Currency Tögrög (1925-date)
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Obverse description Multicolour in orange, brown, red, and blue, with a green-to-gold SPARK optical effect element at centre; portrait vignette of Chinggis Khaan at right, Soyombo symbol at upper left, and a mountain range underprint in the background; map of Mongolia and Mongolian text inscriptions complete the design, with a warrior-on-horseback see-through registration device.
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Protection description Chinggis Khaan portrait watermark and electrotype МБ.
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The Bank of Mongolia's centenary commemorative issue marks a hundred years since the Mongol Bank — the first central bank in the country's modern history — was established in 1924, initially with Soviet backing and staffed largely by Russian advisors. The institution operated for decades as little more than a monetary arm of Ulaanbaatar's alignment with Moscow, which makes the centenary framing as a celebration of independent banking infrastructure somewhat pointed.

Paper composition on a commemorative at this denomination is notable — most comparable anniversary issues from Central Asian central banks shifted to polymer by the mid-2010s. The watermark-only security profile is thin for a 100,000 tögrög face value.

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