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The rupee was the currency of Bhutan until 1974. It was equivalent to the Indian rupee. Until 1957, it was subdivided into 64 paisa. Bhutan then followed India in decimalizing, with the rupee subdivided into 100 naya paisa. The rupee was replaced by the ngultrum at par.
Until its closure in 1789, the coins of the Cooch Behar mint circulated in Bhutan. Following this closure, Bhutan began issuing its own coins, mostly half rupees. Hammered silver coins were the only types issued until 1928, when modern style 1 paisa (copper) and ½ and 1 rupee (silver) coins were introduced. Indian coins circulated alongside Bhutan's own coins to such an extent that, following decimalization in 1957, nine years passed before Bhutan's first issue of coins denominated in naya paisa
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