20 000 Tögrög 90 Years of Mongol Bank

The Mongolbank, established in 1924 as the first central bank of the Mongolian People's Republic, was modeled closely on Soviet banking structures and initially operated under direct Comintern financial supervision. Its first decades were less about monetary policy than about severing the country's economic ties with Chinese trading networks that had dominated the region for generations.

By the 1990s, the bank survived the collapse of the Soviet subsidy system and a near-total currency crisis, emerging with an independent mandate for the first time in its history.