Mongolian Money & Costs
Mongolia’s currency is called the Tugrik which comes in notes of of 5, 10, 20, 50, 100, 500, 1000, 5000, 10,000 and 20,000. Don’t get over excited with a 20,000 note though as it is worth about £12! Changing cash in Ulaanbaatar at exchange booths is straight forward enough and the city has several ATMs.
For any trips out of the city it is best to take the cash you need with you in local currency although small denomination dollars in good condition may also be accepted. Any Tugrik you leave Mongolia with will be souvenirs as it is nigh on impossible to change outside of Mongolia.
Costs Of Travel In Mongolia & Tipping
Mongolia is becoming more expensive to travel in as the economy has experienced a mining and commodity boom over the last decide. You can expect to pay around £100 per person per day for organised tours. Of course, once this is paid there should not be many other costs payable locally although you should expect to pay for any laundry, additional drinks (mainly alcohol) not included, souvenirs and tips for the guides.
In recent years tipping guides and drivers has become the norm in Mongolia and is certainly appreciated by guides if (and only if) the service they have provided warrants it. If you feel the service warrants a tip a rough guide as to how much to give comes down to £ 10 to the guide and £ 5 the driver per day.