The Central Bank of Mongolia announced earlier today (7 February) the introduction of new designs for the MNT 50,000 and MNT 20,000 banknotes. This is part a measure to reconstitute the reserves of the banknotes in circulation.

The new bank notes will be launched from 10 February through commercial banks.

The notes include several new security features to protect against currency counterfeiting. Their security elements that can be checked with the naked eye include 3D security ribbons and colour-changing ink and a micro-optic security thread. There are also tactile elements for the visually impaired.

Along with these state-of-the-art features, the new MNT 20 thousand note also incorporates Mongolian cultural and traditional designs. By resolution of the governor of the Central Bank, the old MNT 20 thousand notes issued in 2006 will be withdrawn from circulation from 1 March, 2020, because of their low security features making them more prone to counterfeiting.

Individuals who still have the old MNT 20 thousand notes will be able to return them at the Central Bank and receive new notes in exchange; this will be possible for two years starting 1 March.