Altanbulag began as a trading outpost across the Kyakhta River from the Russian town of Kyakhta during Qing Empire rule of Mongolia.
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Today, the town is known as Altanbulag in both the Mongolian and Buryat languages.
A joint Mongolian-Russian bank, called the "Trade and Industry Bank of Mongolia" (Bank of Mongolia) was opened on June 2, 1924 in Altanbulag with a single branch.
Byambyn Rinchen was born in 1905 in Bol'shoy Lug place of Troitskosavsky uyezd (district), today the surroundings of Kyakhta, in the border zone of Russia and Mongolia (Kyakhta in Buryatia and Altanbulag sum in Selenge Province).
The provisional government moved to the Mongolian part of Khiagt and began to establish Ministries of the Army, Finances and Foreign Affairs, but when a fire in the aftermath of the battle burnt down the greater part of the town, the government moved on to Altanbulag.
The HNP extends through the Khentii Mountains and includes the western edge of the Mongolian steppe at the boundaries of Altanbulag, Argalant and Bayankhangai Soums of Tov province.