Country ISO code: BT
Official language: Dzongkha
Language ISO code: dz
Current official currency: Bhutanese Ngultrum
Current currency ISO code: BTN

Financial History and Currencies of Bhutan

1. Bhutanese Ngultrum (BTN)

• Singular name: Ngultrum

• Plural name: Ngultrum

• Monetary subdivision: 1 Ngultrum = 100 chhertum

• Fraction name (singular): Chhertum

• Fraction name (plural): Chhertum

• Initial production date: 1974 (introduction of the Ngultrum)

• Initial circulation date: 1974

• Mint: Produced at international mints, no local minting facility

• Issuing bank: Royal Monetary Authority of Bhutan (Central Bank of Bhutan)

• Minted coin denominations: 5, 10, 20, 25, 50 chhertum; 1, 2, 5 ngultrum

• Printed banknote denominations: 1, 5, 10, 20, 50, 100, 500, 1000 ngultrum

2. Previous coins and banknotes

• Prior to the Ngultrum, Bhutan used traditional coins and the Indian rupee as currency.

• The Ngultrum was introduced to strengthen the national economy while maintaining parity with the Indian rupee.

Economic Historical Context

• Bhutan is a mountainous Himalayan country with an economy based mainly on agriculture, controlled tourism, and hydropower exports.

• The Ngultrum is pegged at par with the Indian rupee (INR) at a 1:1 ratio, facilitating trade and monetary stability.

• The Royal Monetary Authority of Bhutan is responsible for currency issuance and financial system oversight.

• Bhutan aims to modernize its economy while maintaining control over its monetary and financial systems to promote sustainable development.

Mints / Production Locations

• Coins and banknotes are produced at international mints such as the Indian Mint and others due to lack of local minting facilities.

Designs / Symbols on Coins and Banknotes / Abbreviations

• Coins and banknotes feature national symbols such as the Bhutanese dragon, Buddhist temples, and inscriptions in Dzongkha and English.

• Banknotes depict images of kings, natural landscapes, and cultural symbols of Bhutan.

Current Circulation Status

• The Ngultrum is actively circulating and is the sole official currency of Bhutan since 1974.

Issuing Authority

• Royal Monetary Authority of Bhutan (Central Bank of Bhutan)

Relevant Monetary Legislation

• Issuance and regulation of the Ngultrum are governed by legislation of the Royal Monetary Authority, which oversees the country’s monetary and financial policy.

This report presents the financial history and current monetary situation of Bhutan (འབྲུག་ཡུལ་), highlighting the Ngultrum as the official currency in circulation since 1974.