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Bhutanese ngultrum
From Wikipedia, the free encyclopedia
| Bhutanese ngultrum དངུལ་ཀྲམ (Dzongkha) |
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| ISO 4217 Code | BTN | ||||
|---|---|---|---|---|---|
| User(s) | Bhutan | ||||
| Inflation | 3% | ||||
| 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 | ||||
| Monetary authority | Royal Monetary Authority of Bhutan | ||||
| Website | www.rma.org.bt | ||||
The ngultrum (ISO 4217 code BTN) has been the currency of Bhutan since 1974. It is subdivided into 100 chhertum (called chetrums on coins until 1979). In Dzongkha, it is written as དངུལ་ཀྲམ.
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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 nation's currencies but is interchangeable with the Indian rupee.
In 1974, aluminium 5 and 10 chetrums, aluminium-bronze 20 chetrums and cupro-nickel 25 chetrums and 1 ngultrum. The 5 chetrums was square and the 10 chetrums was scalloped 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.
In 1974, 1, 5 and 10 ngultrums notes were introduced by the Royal Government, followed by 100 ngultrums in 1978 and 2, 20 and 50 ngultrums in 1981. The Royal Monetary Authority took over the issuance of paper money in 1986. In 2006, the Monetary Authority introduced a new series of notes, and including a 500 ngultrums. [1]
| Previous series [1] | |||||
|---|---|---|---|---|---|
| Value | Dimensions | Main Colour | Description | ||
| Obverse | Reverse | Watermark | |||
| Nu.5 | 130 × 62 mm | Orange | The Government crest, two mythical bird (Bja Tshering) (the bird of long life) | Paro Rinpung Dzong | "Royal Monetary Authority" in top and bottom margin |
| 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. | |||||
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- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1.
- 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.
- Don's World Coin Gallery - Bhutan
- Ron Wise's World Paper Money - Bhutan Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Asia Mirror site
- The Global History of Currencies - Bhutan
- Global Financial Data currency histories table (
Microsoft Excel format)
- worldpapermoney.org - Banknotes of Bhutan image gallery
- Analysis of Pegged Exchange Rate Between Bhutan and India
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