Mongolia Economy

A landlocked country in east Asia, the Mongolian economy has a population of 2.75 million (Census 2010) and ranks 135th in the world according to its GDP PPP. Its GDP PPP was 13.26 billion and GDP PPP per capita was 4,744 vs 48,387 (United States) according to the IMF in 2011. Its currency is the Mongolian tögrög or tugrik (abbreviated MNT in FX) which is issued by its central bank, the Bank of Mogolia (www.mongolbank.mn). In the country some banks define deposit products held for a chosen fixed term with a set rate of return as term deposits or certificate of deposits. Inflation estimates in the country were derived from the CIA.gov website which indicates that its inflation was 9.5% in 2011 and 10.2% in 2010.