PHP to MNT

PHP - Philippine Piso ()
MNT - Mongolian Tugrik ()
1 PHP1 MNT

Currency conversion rates from PHP to MNT

PHPMNT
1 PHP1 MNT
5 PHP5 MNT
10 PHP10 MNT
20 PHP20 MNT
50 PHP50 MNT
100 PHP100 MNT
250 PHP250 MNT
500 PHP500 MNT
1000 PHP1000 MNT
2000 PHP2000 MNT
5000 PHP5000 MNT
10000 PHP10000 MNT
MNTPHP
1 MNT1 PHP
5 MNT5 PHP
10 MNT10 PHP
20 MNT20 PHP
50 MNT50 PHP
100 MNT100 PHP
250 MNT250 PHP
500 MNT500 PHP
1000 MNT1000 PHP
2000 MNT2000 PHP
5000 MNT5000 PHP
10000 MNT10000 PHP

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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PHP - Philippine Piso ()

The Philippine peso is the official currency of Philippines. It is commonly depicted by the symbol ₱. Written abbreviations include: PhP, Php, P$, or P. The official currency code for the peso is PHP.

The Peso is the foreign currency of the Philippines. It's subdivided into one hundred centavos. Prior to 1967, English was used on all notes and coins, hence the term “peso” was used as the name of the currency in the Philippines. When Filipino was introduced as a written language, the term used on notes and coins became “piso”.

The Philippine Peso is the currency in Philippines (PH, PHL). The symbol for PHP can be written P. The Philippine Peso is divided into 100 centavos. The exchange rate for the Philippine Peso was last updated on Today from The International Monetary Fund. The PHP conversion factor has 6 significant digits.

Economy

  • The Philippines is estimated to be the 45th largest economy in the world, with a GDP of USD$216 billion (2011). Major exports includes semiconductors and other electrical components, transport equipment, clothing, copper and petroleum products and fruits.
  • In recent times, the Philippines has been transitioning from a agricultural-based economy to one that increasingly relies on services and manufacturing. Agriculture now only accounts for roughly 30% of the workforce and about 14% of GDP.
  • The economy of the Philippines was the second largest in East Asia after World War II. However the economy stagnated until the 1990s, based on economic policies and political volatility, and other Asian countries surpassed the Philippines in terms of GDP growth.
  • In the 1990s, a new program of economic liberalization was introduced, leading to economic recovery until the 1997 Asian Financial Crisis.

History

  • Prior to the introduction of a formal currency, trade in the Philippines was performed using a barter system, and later on “piloncitos” (small pieces of gold) and gold barter rings.
  • The Spanish introduced coins to the Philippines when they colonized the country in 1521. However, the coins used by Filipino people were minted in various Spanish countries around the world, leading to major inconsistencies in purity and weight.
  • In 1861, the first mint was established in order to standardized coinage.
  • After the Philippines gained independence in 1898, the country’s first local currency was introduced, replacing the Spanish-Filipino Peso.
  • The United States captured the Philippines in 1901, and established a new unit of currency that was pegged to exactly half of a US Dollar in 1903.
  • During World War II, the Philippines was occupied by Japan, and new notes were introduced yet again.
  • The Central Bank of the Philippines was established in 1949, leading to the reintroduction of a formal Filipino currency.

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