cashmere
Mongolian cashmere is known as the best in the world. Garments and blankets made of cashmere. You can find lots of stores that sells cashmere products.
felt poker-work
You can find felt poker-work in Erdenet.
carpet
In Erdenet is a ISO 9 001 certified carpet factory, making and selling also slippers made in carpet.
antiques
Note that it is illegal to take antiques out of the country without a special permit.
Narantuul
The huge open-air market, Narantuul "The Black Market" in Ulaanbaatar offers the lowest prices on just about anything you could want. Be very careful of the many pickpockets and even attackers there. This can be a great place to get a good pair of riding boots. You can opt for a variety of Mongolian styles, from fancy to the more practical, or even get a good set of Russian style boots.
The Mongolian currency is the tôgrôg ÑөгÑөг, also spelled tugrik, tugrug or togrog, Unicode and local symbol: "â®", ISO symbol: "MNT". There are 1,200 tugrik in US$1 or 2,000 tugrik in £1 as of June 1st 2011.
Paintings
By local artists are excellent buys in mongolia.