Currency of Bhutan
Ngultrum
(
Dzongkha
)
|
---|
|
Code
| BTN (numeric:
064
)
|
---|
Subunit
| 0.01
|
---|
|
Symbol
| Nu.
|
---|
|
Subunit
| |
---|
1
⁄
100
| chhertum
|
---|
Symbol
| |
---|
chhertum
| Ch.
|
---|
Banknotes
| Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500, Nu.1000
[1]
[2]
|
---|
Coins
| |
---|
Rarely used
| Ch.5, Ch.10, Ch.25, Ch.50, Nu.1, Nu.3
|
---|
|
User(s)
|
Bhutan
(alongside
Indian Rupee
)
|
---|
|
Monetary authority
| Royal Monetary Authority of Bhutan
|
---|
Website
| www
.rma
.org
.bt
|
---|
|
Inflation
| 5.2%
|
---|
Source
| Royal Monetary Authority of Bhutan
, 2015 est.
|
---|
Pegged with
| Indian rupee
(at par)
|
---|
The
ngultrum
(
;
Dzongkha
:
????????
[ŋy??um]
,
symbol
:
Nu.
,
code
:
BTN
) is the
currency
of the
Kingdom of Bhutan
. It can be literally translated as 'silver' for
ngul
and 'coin' for
trum
. It is subdivided into 100 chhertum (
Dzongkha
:
???????
[pt??????tam]
, spelled as
chetrums
on coins until 1979). The
Royal Monetary Authority of Bhutan
, the central bank of Bhutan is the
minting authority
of the ngultrum banknotes and coins. The ngultrum is currently
pegged
to the
Indian rupee
at parity.
History
[
edit
]
Until 1789, the coins of the
Cooch Behar
mint circulated in Bhutan.
[3]
Following this, Bhutan began issuing its own coins known as
chetrum
, mostly silver
1
⁄
2
rupees. Hammered silver and copper coins were the only types issued until 1929, when modern style silver
1
⁄
2
rupee coins were introduced, followed by bronze 1 paisa in 1931 (dated 1928). Nickel
1
⁄
2
rupee coins were introduced in 1950. While the Cooch Behar mint coins circulated alongside Bhutan's own coins,
decimalization
was introduced in 1957, when Bhutan's first issue of coins denominated in
naya paisa
. The 1966 issues were 25 naya paisa, 50 naya paisa and 1 rupee coins, struck in
cupro-nickel
.
[4]
While the
Bhutanese government
developed its
economy
in the early 1960s,
monetization
in 1968 led to the establishment of the
Bank of Bhutan
. As monetary reforms took place in 1974, the Ngultrum was officially introduced as 100 Chhetrum equal to 1 Ngultrum. The Ngultrum retained the peg to the
Indian rupee
at par, which the Bhutanese coins had maintained.
[5]
The term derives from the
Dzongkha
ngul
, "
silver
" and
trum
, a
Hindi
loanword meaning "money."
[6]
The
Ministry of Finance
issued its first banknotes in 1974 in denominations of Nu.1, Nu.5, Nu.10 and Nu.100. This was followed by the establishment of the
Royal Monetary Authority of Bhutan
as the central bank of Bhutan in 1982, which took over the authority to issue banknotes in 1983, replacing the authority of the Ministry of Finance.
[7]
Coins
[
edit
]
In 1974, aluminum Ch.5 and Ch.10, aluminium-bronze Ch.20, and cupro-nickel Ch.25 and Nu.1 were introduced. The Ch.5 was square and the Ch.10 was scallop-shaped. A new coinage was introduced in 1979, consisting of bronze Ch.5 and Ch.10, and cupro-nickel Ch.25 and Ch.50 and Nu.1 and Nu.3. Aluminium-bronze Ch.25 was also issued dated 1979. Ch.5 and Ch.10 have largely ceased circulating. Currently, coins are available in denominations of Ch.20, Ch.25, Ch.50 and Nu.1.
Image
|
Value
|
Technical parameters
|
Description
|
Date of
|
Diameter
|
Thickness
|
Weight
|
Edge
|
Obverse
|
Reverse
|
issue
|
withdrawal
|
|
Ch.20
|
22.00 mm
|
1.8 mm
|
4.5 g
|
Reeded
|
Man working in field.
Lettering:
??????????????
FOOD FOR ALL
|
Lesser Version of
Coat of Arms
Lettering:
?????
BHUTAN CHETRUMS 20
???????
|
1974
|
Current
|
|
Ch.25
|
22.20 mm
|
1.8 mm
|
4.6 g
|
Reeded
|
Golden fishes of good fortune.
Lettering: ROYAL GOVERNMENT OF BHUTAN
|
Dorje
(a double diamond-thunderbolt) is a part of
Coat of Arms
and represents the harmony between secular and religious power
Lettering:
????????????????
TWENTY-FIVE CHHERTUM
|
1979
|
Current
|
|
Ch.50
|
25.85 mm
|
1.8 mm
|
6.9 g
|
Reeded
|
Treasure vase (One of the 8 Revered Buddhist Symbols).
Lettering: ROYAL GOVERNMENT OF BHUTAN
|
Eight Various Revered Buddhist Symbols & in the center is the word
?????
(BHUTAN)
Lettering:
????????????????
FIFTY CHHERTUM.
|
1979
|
Current
|
|
Nu.1
|
27.95 mm
|
1.7 mm
|
8.2 g
|
Reeded
|
Coat of Arms
within circle, date below Elaborate designed Wheel of Dharma on a Lotus.
Lettering: ROYAL GOVERNMENT OF BHUTAN
|
Coin divided into nine sections within circle, each has symbol, denomination below Eight Various Revered Buddhist Symbols & in the center is the word
?????
Lettering:
??????????????
ONE NGULTRUM
|
1979
|
Current
|
Banknotes
[
edit
]
Previous series
[
edit
]
On June 2, 1974,
[8]
Nu.1, Nu.5 and Nu.10 notes were introduced by the Royal Government of Bhutan, followed by Nu.2, Nu.20, Nu.50, and Nu.100 in 1978.
[8]
On August 4, 1982, the Royal Monetary Authority of Bhutan Act was enacted, although the RMA did not begin operations until November 1, 1983, and did not issue its own family of notes until 1986.
[8]
Previous series
[1]
|
Image
|
Value
|
Dimensions
|
Main Colour
|
Description
|
Obverse
|
Reverse
|
Obverse
|
Reverse
|
Watermark
|
|
|
Nu.1
|
114 x 62 mm
|
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
.
|
Present series
[
edit
]
In 2006, the Monetary Authority introduced its latest series of notes, with denominations of Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500, and Nu.1000. These notes use a hybrid substrate.
[9]
2006?present Series
|
Image
|
Value
|
Dimensions
|
Main Color
|
Description
|
Date of issue
|
Date of first issue
|
Watermark
|
Obverse
|
Reverse
|
Obverse
|
Reverse
|
[2]
|
[3]
|
Nu.1
|
120 x 60 mm
|
Blue, red and green
|
Dragons
|
Simtokha Dzong
|
2006
2013
|
November 20, 2006
|
None
|
[4]
|
[5]
|
Nu.5
|
125 x 60 mm
|
Yellow, brown and red
|
Birds
|
Paro Taktsang
|
2006
2011
2015
|
November 20, 2006
|
None
|
[6]
|
[7]
|
Nu.10
|
125 x 65 mm
|
Purple, dark green and yellow
|
Jigme Singye Wangchuck
; Dungkar (conch), one of the eight good luck symbols
|
Paro
Rinpung Dzong
|
2006
2013
|
2007
|
Jigme Singye Wangchuck
|
[8]
|
[9]
|
Nu.20
|
130 x 65 mm
|
Yellow and green
|
Jigme Dorji Wangchuck
|
Punakha Dzong
|
2006
2013
|
November 20, 2006
|
Jigme Dorji Wangchuck
|
[10]
|
[11]
|
Nu.50
|
145 x 70 mm
|
Pink, orange and green
|
Jigme Khesar Namgyel Wangchuck
|
Trongsa Dzong
|
2008
2013
|
November 6, 2008
|
Jigme Khesar Namgyel Wangchuck
|
[12]
|
[13]
|
Nu.100
|
145 x 70 mm
|
Green
|
Jigme Singye Wangchuck
; Norbu Rimpochhe, one of the seven auspicious gems
|
Tashichho Dzong
, dragons in upper corners
|
2006
2011
2015
|
2007
|
Jigme Singye Wangchuck
|
[14]
|
[15]
|
Nu.500
|
155 x 70 mm
|
Pink, orange and green
|
Ugyen Wangchuck
with the
Raven Crown
|
Punakha Dzong
|
2006
2011
|
November 20, 2006
|
Jigme Singye Wangchuk
|
[16]
|
[17]
|
Nu.1000
|
165 x 70 mm
|
Yellow, red and gold
|
Jigme Khesar Namgyel Wangchuck
with the
Raven Crown
|
Tashichho Dzong
|
2008
2016
|
November 6, 2008
|
Jigme Khesar Namgyel Wangchuck
|
For table standards, see the
banknote specification table
.
|
Commemorative notes
[
edit
]
Commemorative notes
|
Image
|
Value
|
Dimensions
|
Main Color
|
Description
|
Date of issue
|
Date of first issue
|
Watermark
|
Obverse
|
Reverse
|
[18]
|
Nu.100
|
145 x 70 mm
|
Orange, brown and red
|
Mythical angel carrying the
Raven Crown
;
national emblem
; royal wedding logo consisting of khorlo (wheel) signifying royalty, circles with dhar (ceremonial scarf) signifying eternal union of thap (method) and sherab (wisdom), and the dham tshig tsangma and lotus, symbolizing purity of union;
Jigme Khesar Namgyel Wangchuck
and
Queen Jetsun Pema
|
Punakha Dzong
(aka Pungtang Dechen Photrang Dzong, meaning “the palace of great happiness or bliss”)
|
2011
|
October 13, 2011
|
None
|
[19]
|
Nu.100
|
146 x 70 mm
|
Yellow, gold, blue, and red
|
King Jigme Khesar Namgyel Wangchuck
and
Queen Jetsun Pema
;
Jigme Namgyel Wangchuck
|
Mountains; dragon
|
February 5, 2016
|
2017
|
Jigme Singye Wangchuck with electrotype swirl
|
For table standards, see the
banknote specification table
.
|
Exchange rate
[
edit
]
See also
[
edit
]
References
[
edit
]
- Krause, Chester L.; Clifford Mishler (1991).
Standard Catalog of World Coins
: 1801?1991
(18th ed.). Krause Publications.
ISBN
0873411501
.
- Panish, Charles K: "Early Coinage of Bhutan".
The American Numismatic Society, Museum Notes 17
, New York 1971, p. 247-254 and plates XLVII-XLVIII.
- Rhodes, Nicholas:
The Coinage of Bhutan
. Oriental Numismatic Society, Information Sheet no 16, January 1977.
- Rhodes, Nicholas: "Coinage in Bhutan".
Journal of Bhutan Studies.
. The Centre of Bhutan Studies, vol. 1, no. 1, Thimphu, Autumn, 1999, p. 84-113.
- Rhodes, Nicholas: "The Monetisation of Bhutan".
Journal of Bhutan Studies.
. The Centre of Bhutan Studies, vol. 2, no. 1, Thimphu, Winter 2000, p. 85-103.
- Krause, Chester L.; Clifford Mishler (1991).
Standard Catalog of World Coins
: 1801?1991
(18th 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
.
External links
[
edit
]
|
---|
Circulating
| |
---|
Defunct
| |
---|
Conceptual
| |
---|
Fictional
| |
---|
See also
| |
---|
Currencies of Asia
|
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Central
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East
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North
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South
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Southeast
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West
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