Central bank to roll out improved banknotesEconomy
Ulaanbaatar /MONTSAME/. The Bank of Mongolia today announced the introduction of improved notes of MNT 50 and MNT 20,000 to the country’s currency denomination, as part of a measure to reconstitute the reserves of banknotes in circulation.
The central bank will put the new notes into circulation starting February 10 through commercial banks.
The notes are added with 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 color-changing ink and micro-optic security thread and tactile structures for visually impaired people.
The new MNT 20 thousand bill also incorporates Mongolian cultural and traditional designs combined with the state-of-the-art techniques, the Bank of Mongolia reports.
By the central bank governor’s resolution, banknotes of MNT 20 thousand issued in 2006 will be drawn back from circulation from March 1, 2020, because of its low security features making it more prone to counterfeiting.
Individuals holding the old note of MNT 20 thousand are able to return them at the central bank and receive new notes in exchange for two years starting March 1.