The Mongolian Tugrik is the official currency of Mongolia. It is abbreviated as MNT and is symbolized by ₮. The Tugrik was first introduced in 1925, replacing the Mongolian dollar, and has undergone several changes in design and value over the years. The currency is issued by the Bank of Mongolia, which manages its supply and stability. The Tugrik is subdivided into 100 mongo, although mongo coins are rarely used today. The exchange rate of the Tugrik can fluctuate significantly against major currencies like the US Dollar and the Euro.