Changing money in Mongolia
Hi, I will be getting out of Kazachstan to Barnaul (Russia) and from the Altai Region I will enter into Mongolia.
I was wondering, how can I get Mongolian currency once in Mongolia. Those places seem quite remote. I doubt there will be any ATM, but will there be an exchange office or something like that? Do they take USD or do I need to have rubles with me?
You can use Russian rubles to pay for insurance at the border.
Once you arrive in the big town Khovd, go to the marketplace...there you will find all the money changers in front of jeeps/uaz's...
They'll change rubles, euro, $$$s, etc.
Make sure you keep enough rubles if you plan on re-entering Russia again. You will not find an ATM until Ulaan Batur...so change your money in Khovd accordingly...none of the local banks in any of the big towns change money.
Last year I changed money in oficial bank on central square in Olgy. Without any problem. I changed USD and RBL.
Just after border in small village offerd me changing, but rate was horrible.
When you will go out from Mongolia, you must change back Tugriks in Mongolia. In Russia is imposible.
In my prior post the market I was referring to is in Olgy, not Khovd. Olgy is the first big town when you enter from the Altai.
Funny you mention the central bank...we were told that they didn't in Olgy, so we went to the market....we got a really good rate there. When we went to UB, the rate at the bank was not very good. I guess we should have not listened to the local that told us that.
Good point on the Tugrik when leaving Mongolia. Make sure you get rid of all your Tugrik before leaving or you will find yourself with some very expensive dirty paper...
In Mongolia if you get desperate for cash every provincial capital town has at least one bank where you can get a cash advance on your credit card. Not the best idea since the interest on credit card cash advances is very high, but if you are in great need it is good to have the option.
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