Bhutanese ngultrum

Bhutanese ngultrum
(Dzongkha)
1 ngultrum
ISO 4217 code BTN
User(s)  Bhutan (alongside Indian rupee)
Inflation 5.5%
Source The World Factbook, 2005 est.
Pegged with Indian rupee at par
Subunit
1/100 chhertum (chetrum)
Symbol Nu.
chhertum (chetrum) Ch.
Coins
Freq. used Ch.20, Ch.25, Ch.50, Nu.1.
Rarely used Ch.5, Ch.10
Banknotes Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500, Nu.1000[1][2]
Monetary authority Royal Monetary Authority of Bhutan
Website www.rma.org.bt

The ngultrum (ISO 4217 code BTN) (Dzongkha: དངུལ་ཀྲམ) has been the currency of Bhutan since 1974. It is subdivided into 100 chhertum (called chetrums on coins until 1979).

Contents

History

In 1974, the ngultrum was introduced, replacing the rupee at par. The ngultrum is equal in value to the Indian rupee.

India was key in assisting the Bhutanese government as it developed its economy in the early 1960s. When the ngultrum was introduced, it retained the peg to the Indian rupee which the Bhutanese rupee had maintained. The ngultrum does not exchange independently with other nations' currencies but is interchangeable with the Indian rupee.

Coins

In 1974, aluminium 5 and 10 chetrums, aluminium-bronze 20 chhertums and cupro-nickel 25 chetrums and 1 ngultrum were introduced. The 5 chhertum was square and the 10 chhertum was scallop-shaped. A new coinage was introduced in 1979, consisting of bronze 5 and 10 chhertum, and cupro-nickel 25 and 50 chhertum and 1 ngultrum. Aluminium-bronze 25 chhertum were also issued dated 1979. The 5 and 10 chhertum have largely ceased circulating.

Banknotes

On June 2, 1974,[3] 1, 5 and 10 ngultrum notes were introduced by the Royal Government of Bhutan, followed by 2, 20, 50, and 100000 ngultrums in 1978.[4] On August 4, 1982, the Royal Monetary Authority of Bhutan Act was enacted, although the RMA didn't began actual operations until November 1, 1983, and did not issue its own family of notes until 1986.[5] In 2006, the Monetary Authority introduced its latest series of notes, with denominations of 1, 5, 10, 20, 50, 100, 500, and 1000 ngultrum.

Previous series [2]
Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse Watermark
Nu.1 Blue The Government crest, two dragons Simtokha Dzong "Royal Monetary Authority" in top and bottom margin
Nu.5 130 × 62 mm Orange The Government crest, two mythical bird (Bja Tshering) (the bird of long life) Paro Rinpung Dzong
Nu.10 140 × 70 mm Purple The Government crest, Dungkar (conch) (one of the eight lucky signs), Jigme Singye Wangchuck
Nu.20 152 × 70 mm Yellow-green The Government crest, Khorlo (Wheel of Dharma , one of the eight auspicious signs), Jigme Dorji Wangchuck Punakha Dzong
Nu.50 155 × 70 mm Pink Trongsa Dzong, two mythical birds Bja Tshering (bird of long life)
Nu.100 161 × 70 mm Green Norbu Rimpochhe (one of the seven auspicious gems), Jigme Singye Wangchuck Tashichho Dzong Crossed Dorji (Dorji jardrum)
Nu.500 160 × 70 mm Red Norbu Rimpochhe encircled by two Dragons (one of the seven auspicious gems), Ugyen Wangchuck Punakha Dzong
For table standards, see the banknote specification table.
Current BTN exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From OzForex: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD

See also

References

  1. ^ [1] Accessed 2008-11-13
  2. ^ Bhutan issues new 50- and 1,000-ngultrum notes BanknoteNews.com. Retrieved 2011-10-15.
  3. ^ Linzmayer, Owen (2011). "Bhutan". The Banknote Book. San Francisco, CA: BanknoteNews.com. http://banknotebook.com. Retrieved 2011-08-21. 
  4. ^ Linzmayer, Owen (2011). "Bhutan". The Banknote Book. San Francisco, CA: BanknoteNews.com. http://banknotebook.com. Retrieved 2011-08-21. 
  5. ^ Linzmayer, Owen (2011). "Bhutan". The Banknote Book. San Francisco, CA: BanknoteNews.com. http://banknotebook.com. Retrieved 2011-08-21. 

External links

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