20 000 Tögrög

Mongolia's highest denomination at the time of issue, the 20,000 Tögrög was introduced partly in response to cumulative inflation that had made smaller notes functionally awkward for everyday transactions — a persistent problem since the early 1990s liberalization, when the tögrög lost the artificial stability it had under the Soviet-era monobank system. G&D's Munich facility printed the series, and the note carries a relatively modest security specification for its face value, with watermarking as the primary overt feature.

Pick 70 is notably scarce in heavily circulated grades, likely because high-denomination notes in Mongolia tended toward hoarding rather than daily use.