Administration/Currency

car on a road

04

Jan
2017
Administration/Currency
Posted By : Admin/462

Administration

Mongolia is parliament governing with the president democratic country. The main political administration is State Parliament known as Ulsiin Ikh Khural consists of 76 members. The parliament and president election held every 4 years in whole state. The executive body is the government which consists of ministers. And the government establish by the State Conference. Administrative subdivisions 21 aimags (provinces), the capital city (Ulaanbaatar), the aimag are subdivided into soums.

Currency

The basic monetary unit in Mongolia is TUGRUG, which is equal to 100 mungu. At the present, 20,000, 10,000, 5,000, 1,000, 500, 100, 50, 20, and 10 tugrug notes are in circulation. Commercial banks in Ulaanbaatar and province centers are the official organizations authorized to exchange foreign currency. They have network of branches in Ulaanbaatar and exchange bureaus at main hotels. ATM machine  is available.