The Central Bank of Mongolia, officially known as the Bank of Mongolia, is the country's primary financial institution responsible for regulating the monetary system. Established in 1924, it aims to maintain price stability, manage foreign exchange reserves, and oversee the banking sector. The bank plays a crucial role in formulating and implementing monetary policy to support economic growth. In addition to its monetary functions, the Central Bank of Mongolia supervises commercial banks and ensures the stability of the financial system. It also issues the national currency, the Mongolian tögrög, and works to promote a stable and efficient payment system within the country.