MNT to SEK

MNT - Mongolian Tugrik (MNT)

Mongolian Tugrik

The Mongolian Tögrög or Tugrik is the official currency of Mongolia. The banknotes are in denominations of 1, 3, 5, 10, 20, 50, 100, 500, 1,000, 5,000, and 10,000; coins are in denominations of 20, 50, 100, and 200. Importing of local currency is limited to 815 Tugrik. Exporting local and foreign currencies is also limited to 815 Tugrik.

The Mongolian Tugrik is the currency in Mongolia (MN, MNG). The symbol for MNT can be written Tug. The Mongolian Tugrik is divided into 100 mongos. The exchange rate for the Mongolian Tugrik was last updated on May 24, 2019 from Yahoo Finance. The MNT conversion factor has 5 significant digits.

Economy

• Mongolia’s economy has relied on the agricultural and herding sectors.
• The country has extensive mineral deposits.
• The economy improved in 2002–2003 as a result of increased copper and gold production.
• The Mongolian economy is highly sensitive to activity in neighboring countries. For instance, Mongolia relies on Russia for >90% of its petroleum product imports as well as a high proportion of its electric power, making the country very susceptible to price increases.
• Mongolia’s main export trading partner is China, which is also considered Mongolia’s “shadow” economy.
• In 1997 Mongolia joined the World Trade Organization and intends to join Asian regional economic and trade organizations.

History

• On April 1, 1928 the Tugrik replaced the Mongolian Dollar and other currencies and became the only legal currency in Mongolia.
• Before other currencies were used in Mongolia, the mongo was also part of the currency history. It is no longer in the circulation because of its very low value. They became collectibles and novelties for tourists on the country.
• In 2010, the ratio of Tugrik to US Dollar increased by 15% - the highest exchange rate gain in the world.

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SEK - Swedish Krona (kr)

The Swedish krona (plural: kronor) is the official currency of Sweden. Its commonly used code is SEK and its symbol is ‘kr’. The most popular krona exchange is with the euro. The krona is the ninth most traded currency in the world. Its currency conversion factor has 6 significant digits. The krona is a fiat currency.

The Swedish Krona has been the currency of Sweden since 1873. It is issued by the Swedish central bank, Sveriges Riksbank. In English, the currency is sometimes referred to as the Swedish crown (Krona means crown in Swedish).

The Swedish Krona is the currency in Sweden (SE, SWE). The Swedish Krona is also known as Kronas. The symbol for SEK can be written kr, Sk, and Skr. The Swedish Krona is divided into 100 ore. The exchange rate for the Swedish Krona was last updated on Today from The International Monetary Fund. The SEK conversion factor has 6 significant digits.

Economy

• Sweden has achieved an enviable standard of living, due to high-tech capitalism, extensive social benefits, a modern distribution system, and a highly skilled labor force.
• The economy is heavily oriented to foreign trade, utilizing a resource base of timber, hydro power, and iron ore.
• The global economic crisis of 2008 reduced export demand and consumption, causing the Swedish economy to slide into recession despite its strong finances and underlying fundamentals. Strong commodity exports contributed to a strong rebound in 2010-2011.

History

• The Swedish Krona was introduced in 1873, replacing the Riksdaler at par. The currency was introduced as a result of the Scandinavian Monetary Union with Norway and Denmark, which lasted until World War I. Currencies under the treaty were under the gold standard.
• The Monetary Union ended with the outbreak of World War I in 1914. Sweden abandoned the gold standard on August 2, 1914, and without a fixed exchange rate the union came to an end.
• By treaty, Sweden is required to join the eurozone and convert to using the Euro. However, most Swedes are opposed to adopting the currency. On September 14, 2003, 56% of a high turnout of voters rejected adopting the Euro. Taking advantage of a loophole, the Swedish government has opted not to join ERM II, a precondition to adopting the Euro.

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