Online Forex trading in Mongolia is legal and operates under the regulatory oversight of the Bank of Mongolia and the Financial Regulatory Commission. The Bank of Mongolia implements foreign currency regulations in accordance with Mongolian laws, following principles of keeping exchange rates free and realistically determined while maintaining stability of the tugrik. Local forex brokers are regulated through the Financial Regulatory Commission, which oversees non-bank financial institutions including capital markets (1).
The tugrik is the national currency and the only legal tender in Mongolia, with all cash payments and transactions required to be made in tugriks except for certain bank and government transactions. Mongolia maintains a floating exchange rate policy, although the central bank intervenes in the foreign currency market to maintain a steady exchange rate. Individuals may exchange money at authorized exchange points including banks and hotels (2).
"There are no foreign exchange controls affecting either investment or trade in Mongolia. Infrequently, the commercial banking system has shortages of dollars that slightly delay remittances. Currency transactions over 20 million MNT are subject to government reporting requirements."
The Bank of Mongolia ensures tugrik stability when purchasing or selling foreign currencies and similar instruments in exchange for the tugrik. Exchange rate policies are implemented to promote balanced development of the national economy. The Bank of Mongolia maintains various regulations governing forex operations including spot trading regulations, long-term swap agreements, and procedures for calculating and announcing exchange rates of the tugrik against other currencies (1).
Source:
https://www.mongolbank.mn/en/p/2074
https://www.privacyshield.gov/article?id=Mongolia-Foreign-Exchange-Controls
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
