The Authority for Fair Competition and Consumer Protection last month delivered a notice to every service provider, entity and entrepreneur to use only tugrug or MNT in circulation as currency.

The Authority conducted inspections on the service providers, entities and entrepreneurs in order to oversee if the notices were followed.

O.Magnai, the Chief of the Authority for Fair Competition and Consumer Protection said the following:

-It is good news that every transaction has to be made in the national currency tugrug in Mongolia. If there are any violations regarding the rule, a civilian can complain about it to the Authority for Fair Competition and Consumer Protection. We will take measures directly. Some civilians questioned that  tax paid in a foreign currency is a violation of the law. According to the law only payment and bill should be paid in the national currency.
So I believe there are no concerns about this.

Every transaction in the automobile business, industries and schools should be in the national currency. I is now possible that any law breakers who conduct a transaction in a foreign currency will be charged.