Sending money to Mongolia isn’t so difficult, but your options are limited. That being said, you have several decent or good options available when sending money from other countries.
The current exchange rate for the Mongolian Tughrik (MNT) is 2850.304767 MNT per American Dollar (USD) as of the time this was written. The MNT reached a high of 2,860.4381 MNT per USD and a low of 2,847.2217 MNT per USD during the last 90 days. The average exchange rate over the last 90 days was 2,850.2780 MNT per USD.
The average volatility rate for the MNT against the USD was 0.28% for the last 90 days. This is a normal volatility rate, and the MNT has been behaving similarly for some time now. You can reasonably expect normal fluctuations in the exchange rates to continue going forward, barring any unforeseen circumstances.
The fastest way to send money to Mongolia is through Ria Money Transfer’s fast option. With Ria Money Transfer’s fast option, your money will reach its Mongolian destination in a matter of minutes. The fast option is also very affordable and costs less than most of Ria Money Transfer’s slower competition. The main drawback to Ria Money Transfer is that some users complain of hassles and a platform which isn’t the easiest to use. When it comes to their fast option, you can be sure you’re getting a good deal when it comes to both speed and cost.
The cheapest way to send money to Mongolia is through Ria Money Transfer’s slow option. Ria Money Transfer charges very low upfront rates for their money transfer services. The company’s slow option also charges relatively low hidden currency conversion costs. When both of these factors are considered, Ria Money Transfer’s slower option is the cheapest.
Xoom offers you the easiest method for sending money to Mongolia. Xoom is owned by PayPal and as such offers you a similar level of ease of use and convenience. The easiest thing you can do for the recipient is to send money to their debit card so that they can withdraw cash from an ATM right after they receive the money. You can of course also opt to send money to the recipient’s bank account.
The overall best way to send money to Mongolia is through Ria Money Transfer. We would recommend that you use their faster option to get a better deal, as you’d pay more, but your transfer would be completed much faster. Ria Money Transfer’s fast option gives you the best balance between cost and speed. If you are not in a rush and would prefer cheaper rates, their slow option offers highly competitive rates. With Ria Money Transfer, you have a service that is more accessible and generally well-rounded than the competition. You can also switch between their fast and slow options as you please.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com