- 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 chetrums and cupro-nickel 25 chetrums and 1 ngultrum were introduced. The 5 chetrum was square and the 10 chetrum 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 100 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][dead link] 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
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
- ^ [1] Accessed 2008-11-13
- ^ Bhutan issues new 50- and 1,000-ngultrum notes BanknoteNews.com. Retrieved 2011-10-15.
- ^ Linzmayer, Owen (2011). "Bhutan". The Banknote Book. San Francisco, CA: BanknoteNews.com. http://banknotebook.com. Retrieved 2011-08-21.
- ^ Linzmayer, Owen (2011). "Bhutan". The Banknote Book. San Francisco, CA: BanknoteNews.com. http://banknotebook.com. Retrieved 2011-08-21.
- ^ 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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