LABZ to MNT Converter and calculator


Conversion rates
Convert LABZ to MNT
Convert MNT to LABZ
LABZ to MNT chart
LABZ to MNT conversion data: Volatility and price changes of Insane Labz in MNT
Last 24 hours | Last 7 days | Last 30 days | Last 90 days | |
---|---|---|---|---|
High | 2.75 MNT | 2.75 MNT | 2.75 MNT | 76.48 MNT |
Low | 2.66 MNT | 2.44 MNT | 1.9 MNT | 1.87 MNT |
Average | 0 MNT | 0 MNT | 0 MNT | 0 MNT |
Volatility | % | % | % | % |
Change | -0.52% | +8.49% | -1.81% | -96.43% |
Insane Labz information
LABZ to MNT market statistics
Current LABZ to MNT exchange rate
Insane Labz to Mongolian Tugrik is rising this week.More info about Insane Labz on Bitget
Mongolian Tugrik information
About Mongolian Tugrik (MNT)
The Mongolian Tugrik (MNT), introduced in 1925, is more than just the official currency of Mongolia; it represents the country's rich cultural heritage and its journey through economic transitions. It is commonly abbreviated as MNT and represented by the symbol ₮. As Mongolia navigated its path from a Soviet-style economy to a market-oriented system, the Tugrik has played a pivotal role in the nation's socio-economic development.
Historical Background
The introduction of the Tugrik was a significant step in Mongolia's early years as an independent nation, symbolizing its move away from the Chinese and Russian currencies that had previously circulated. The Tugrik's establishment was part of Mongolia's broader efforts to assert its national sovereignty and economic independence.
Design and Symbolism
The design of the Mongolian Tugrik reflects the country's deep historical roots and nomadic culture. Banknotes and coins feature images of historic Mongolian leaders like Genghis Khan and Damdin Sükhbaatar, along with traditional symbols and motifs that celebrate Mongolia's rich history and cultural identity. These designs are not merely for financial transactions; they are imbued with national pride.
Economic Role
The Tugrik plays a crucial role in Mongolia’s economy, characterized by its mining sector, agriculture, and growing service industry. As the primary medium of exchange, it facilitates domestic trade and is vital for everyday economic activities, from urban centers to rural nomadic communities.
Monetary Policy and Inflation
Managed by the Bank of Mongolia, the Tugrik has faced challenges like inflation and currency devaluation, particularly during times of economic uncertainty. The bank's monetary policies aim to stabilize the Tugrik, which is crucial for maintaining economic confidence and fostering investment.
International Trade and the Mongolian Tugrik
The Tugrik’s exchange rate plays a significant role in international trade, particularly for Mongolia's key exports like copper, coal, and cashmere. A stable Tugrik is important for maintaining competitive export prices and fostering a favorable trade balance.
Remittances and the Economy
Remittances from Mongolians working abroad, primarily in South Korea and Japan, are a vital source of foreign income. These remittances, converted into Tugriks, support many families and contribute to the national economy.
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LABZ to MNT Conversion tables
Amount | 05:34 am today | 24 hours ago | 24h change |
---|---|---|---|
0.5 LABZ | ₮1.34 | ₮1.35 | -0.52% |
1 LABZ | ₮2.69 | ₮2.7 | -0.52% |
5 LABZ | ₮13.45 | ₮13.52 | -0.52% |
10 LABZ | ₮26.89 | ₮27.03 | -0.52% |
50 LABZ | ₮134.46 | ₮135.16 | -0.52% |
100 LABZ | ₮268.92 | ₮270.33 | -0.52% |
500 LABZ | ₮1,344.58 | ₮1,351.63 | -0.52% |
1000 LABZ | ₮2,689.17 | ₮2,703.26 | -0.52% |
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