LAW OF MONGOLIA ON MAKING PAYMENTS AND SETTLEMENTS IN NATIONAL CURRENCY
09 July 2009, the State Palace, Ulaanbaatar
CHAPTER TWO - PAYMENTS AND SETTLEMENTS TO BE MADE IN NATIONAL CURRENCY
Article 4. Consumption of national currency
4.1 Prices of goods, works and services shall by expressed by, and payments and settlements shall be made in only national currency on the territory of Mongolia and setting prices, making payments and settlements and announcing and promotion in foreign currency, calculation units shall be prohibited without an official consent of the Mongolbank, except as provided in clause 4.4 of this Law.
4.2 Any settlements to be made from the state and local budgets, and to be financed by the budget shall be made in national currency and it shall be prohibited to make these settlements in foreign currency.
4.3 Definitions of amounts of fees, commissions and liability in laws and regulations of Mongolia shall be expressed in only togrog.
4.4 Monetary deposits, loans, any similar services of bank and nonbank financial organizations, a contract to enter in relation to financial derivative instruments and binding obligations under the contract may be expressed, and its performance may be completed in foreign currency.