100 Tögrög

Mongolia's transition from a centrally planned economy to a market system in the early 1990s forced a rapid series of currency reforms, and this note belongs to the first generation of tögrög issues designed to function in that new environment. Thomas De La Rue had long handled printing for issuing authorities navigating exactly these kinds of institutional upheavals, and their involvement here reflects Mongolbank's need for internationally credible production standards at a moment when the domestic financial system was being rebuilt from scratch.

The watermark security is modest by De La Rue's capabilities of the period — a deliberate cost constraint, not a technical limitation.