25 Tögrög

The Mongolian Trade and Industry Bank — Mongolyn Худалдаа Аж Үйлдвэрийн Банк — was the sole issuing authority for Mongolian currency through much of the early Soviet-aligned period, and its 1939 series was produced entirely by Goznak in Moscow, which handled banknote and security document production for the USSR and several allied states. Mongolia's financial infrastructure in this period was so thoroughly integrated with Soviet institutional frameworks that design, printing, and likely paper stock all originated in Russia with minimal local input.

The 1939 date places this note in the year of the Battle of Khalkhin Gol, the undeclared border war fought largely on Mongolian soil against Japan. Whether that conflict affected distribution of this series is not documented, but the timing is not incidental to understanding the political moment of its issue.