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Foreign Perspectives on the Currency of Mongolia

By Nicholas Campbell-McBride

For many Europeans visiting Mongolia for the first time, the currency and notes may seem a bit alien to the European currencies, like the pound, the dollar and the euro. For a number of different reasons, some to s may be the giant amounts that can be carried around in one’s pocket, hundreds and thousands, which to some may be a bit mind boggling if coming from a country where the largest amount one may have in their pocket would be 50, let alone 100. For others, whether they have visited the Asian region or not, may adjust more quickly and easily. A curious part of Mongolian culture, also to do with their currency, is the way they like to keep their money in order in their wallets. Until someone has visited Mongolia, they may not have heard of this before, but the Mongolian people take great pride in their currency. An easy way for an English person to gauge converting the British pound to the Tugrug, is to remember that £40 is equivalent to 100,000 Tugrug—to convert smaller or larger amounts, just break it down from there. To find out what other Europeans visiting this country, whether for the first time or not, have thought of the currency compared to their own, I conducted an informal questionnaire and gave it to a few people from England, Canada and even some Mongolians, to get a local view point on the Tugrug. I asked a few simple straight forward questions, such as: “Do you like the Tugrug Mongolian currency? Does it work for you and if there’s anything that you think could be changed or altered? Please describe.”
My informal questionnaire results told me that everyone I talked with liked the Tugrug Mongolian currency and found that it worked well for them. Some people questioned had some strong view points on the currency notes as a whole. A Canadian said when questioned, that he found it difficult using the thousands, and that he preferred counting in smaller digits, found it simpler when purchasing items. Another member of the group I questioned said, that he thought it would be better, if there were no one thousand notes. Furthermore an opinion was added by a member of the group that they thought the currency would improve in a time of around 6 years. One person said that they thought that in the short term, if a currency like the Tugrug was to be discontinued, it would simply be replaced with another. And one went on to say, that he thought that in time, the new currency too would become like the old one, due to inflation. And that inflation was the main issue that may need to be looked at. After all the view points from various European foreign visitors and local Mongolians, the conclusion seemed, that most people coming to this country adjusted well to the new currency, and found it easy to use. Though having said that, they also thought that the way the money was counted and sorted into numbers was confusing and difficult for foreigners to use and to get their head around. Some thought that changing the current currency to a new one wasn’t the way to go about things, and that if any change was to be made at all, it should be due inflation issues. As well as the beautiful and fascinating culture of Mongolia that attracts visitors from all around, the money that comes in from tourism is also very important to the country. It would be a great plus for tourism, if tourists felt comfort and at ease with the currency, so that when tourists purchase, they can help and understand. Forming a stronger relationship between foreign visitors and the local Mongolians. Also helping tourism to grow and flourish, another decision that could help both sides, would be to have a guide or description on how to calculate and use the local currency Tugrug for Tourists. That could be easily accessible to anyone visiting the country, whether they have been here before or if it’s the first time. Whether any changes are made to the Mongolian Tugrug, the important aspect building strong relations between the locals and the foreigners. Solving any differences and misunderstanding and making friends between all people from all nationalities. Every country with their customs have their plusses and minuses, and by recognising them, we can accept or alter them to our convenience. Currency is only a small step in making peace with others in all places everywhere. Whether it’s Mongolia or anywhere else in this world of ours.

Short URL: http://ubpost.mongolnews.mn/?p=1175

Posted by on Sep 28 2012. Filed under Opinion. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

1 Comment for “Foreign Perspectives on the Currency of Mongolia”

  1. Why do you keep posting this moronic non-sense?

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