Over 6000 counterfeit Yuan, the Chinese currency, were discovered in a citizen`s amount to be exchange at Naiman Sharga exchange center on January 3rd. An officer of the exchange center called for the police. Chingeltei district police have initiated an investigation into the case.
Due to the upcoming Mongolian traditional holiday, “Tsagaan sar”, the lunar New Year, there is increasing demand for Yuan in the exchange centers in Ulaanbaatar.

There is speculation that more Mongolian shoppers might become victims of counterfeit Yuan fraud when they trade in Erlian (Erenhot) in China.

The Police warn citizens to register all currency exchanged and to provide proof by taking a picture of the exchanger if possible, and to exchange currency only via bank or official financial organizations.