Bhutanese Ngultrum

About The Bhutanese Ngultrum: The Strong Currency of Bhutan

Quick Facts About the Bhutanese Ngultrum Notes

Country of Origin	Bhutan
Symbol	Nu.
Currency Code	BTN
Nick Names
Minor units	Chhertum
Denominations (Banknotes)	Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500 and Nu.1000
Motto	The words "Food for All" can be found engraved on a BTN 0.2.
Identification Feature	On the obverse side of Nu.500, you can find Norbu Rimpochhe encircled by two Dragons and Ugyen Wangchuck.
Issuing Bank	Royal Monetary Authority of Bhutan
In Circulation Since	1929

The Royal Monetary Authority of Bhutan, which serves as the country's central bank, is responsible for issuing both banknotes and coins in the national currency of Bhutan, which is denominated in ngultrum. The Bhutanese ngultrum, abbreviated as BTN, is the country's legal tender and the currency of the Kingdom of Bhutan. The kingdom of Bhutan is located in central Asia and is characterised by its hilly terrain.

The name of the currency is composed of two words: ngul, which means "silver" in the native Dzongkha language of Bhutan, and trum, which means "money" in the Hindi language. Together, these words make its full name. "Nu" is the abbreviation that is used in the country of Bhutan for the ngultrum, and one ngultrum is equal to one hundred chetrums. The Indian rupee is the only other international currency that can be easily exchanged for the ngultrum, which was introduced in 1974 and is still linked to it.

There are paper bills for the amounts of 1, 5, 10, 20, 50, and 100 Nu, as well as a bill for the value of 500 Nu. The current Bhutanese ngultrum price is INR (⚠️ 🔄) .

History of the Bhutanese Ngultrum

After a period of economic reform, the Kingdom of Bhutan's central bank, the Bank of Bhutan, was founded in 1968. From that year until 1982, it was in charge of handling the country's currency. In 1982, the Royal Monetary Authority of Bhutan was given the responsibility of taking control of the country's monetary system and the manufacture of currency.

Up until the year 1789, the majority of coins in circulation in Bhutan were produced from the Cooch Behar mint in the Indian state of West Bengal. Following the occupation of the mint by British colonial soldiers, Bhutan began producing its own currency, initially denominated in chetrum and initially composed of copper and silver. Blacksmiths with years of experience used hammers and dies to craft these items in the traditional manner. It wasn't until 1929 that Bhutan began producing its first modern coinage, and this was largely due to the country's limited interaction with modern industry.

In order to replace the Indian rupee, Bhutan began minting its own currency known as the chetrum. This money was mostly made up of halves of silver coins. Only hammered silver and copper coins were legal tender in circulation in India prior to the introduction of the silver half rupee and the bronze one paisa in the years 1929 and 1931, respectively (dated 1928). Half rupees composed of nickel were introduced into circulation in 1950.

Despite the fact that coins from the Cooch Behar mint circulated alongside Bhutanese coinage, the first issuing of coins priced in naya paisa signified the advent of decimalization in 1957. This was the year that Bhutanese coins were first valued in naya paisa. 1966 saw the release of rupee coins made of cupro-nickel, in denominations of 25, 50, and 1 rupee respectively.

After the government of Bhutan had begun the process of creating the country's economy in 1968, the country's currency was minted, and the Bank of Bhutan was established. The introduction of the Ngultrum was a part of the monetary reforms that took place in the country in 1974. At the time of its official launch, the Ngultrum had a value equivalent to one hundred Chhetrum. Ngultrums have consistently been issued at the same value as their Indian rupee equivalents since the currency's inception.

The Ministry of Finance issued brand new banknotes in 1974, including denominations of 1, 5, 10, and 100 New Guinea dollars respectively. In 1983, the role of issuing banknotes was transferred from the Ministry of Finance to the Royal Monetary Authority of Bhutan, which became Bhutan's central bank in the same year.

Countries Accepting the Bhutanese Ngultrum

Amount in the Bhutanese Ngultrum You Should Carry for Your Trip

The amount of money that you will need to explore the lovely country of Bhutan may vary depending on a variety of different factors. The cost of getting to your destination, the cost of your lodging, and the cost of your meals will all have an impact on the holiday spending budget you set aside for yourself. A traveller to Bhutan on a limited budget should plan to spend approximately BTN2,661 per day while they are there. When you factor in the costs of fancy transportation, dining at restaurants with Michelin stars, and staying in only the highest-rated hotels, however, the cost of a single day of vacation can easily reach BTN11,621. For two people, a trip to Bhutan can range anywhere from BTN5,000 to BTN23,000.

The price of a hotel room in Bhutan can range anywhere from BTN963 to BTN4,204 per night and per person. On the other hand, the cost of one day's worth of transportation might range anywhere from BTN820 to BTN3,582, depending on whether you take public transit or a private automobile.

All in all, you can keep an eye on the live Bhutanese ngultrum rate in order to exchange your currency notes. You can also easily check out the Bhutanese Ngultrum to AUD rate.