Bhutanese Ngultrum (BTN)

Basic Concepts of Bhutan Nur Trium

The Bhutanese Nur Trium (currency code BTN) is the legal tender of the Kingdom of Bhutan, issued and managed by the Royal Monetary Authority of Bhutan. Its name "Nultrum" means "silver" in Dzongkha, and the currency symbol is Nu. The currency has a fixed exchange rate of 1:1 with the Indian rupee, and the two currencies can circulate equally in Bhutan.

Countries and Regions of Use

The Bhutanese Nur Tem is the sole legal tender of the Kingdom of Bhutan and circulates mainly throughout Bhutan. Due to Bhutan's special economic relationship with India, the Indian Rupee is also widely accepted in Bhutan, forming a dual currency system. Exchange outside of Bhutan takes place through specific financial institutions, and circulation is clearly geographically based.

Currency unit and denomination system

The Bhutanese Nurthrum is divided into decimal degrees: 1 Nurthrum = 100 Chetrum. The current denominations of banknotes are Nu 1, 5, 10, 20, 50, 100, 500 and 1,000, while coins cover Nu 1, 5, 10, 25, 50 Chet Rum and Nu 1 Chet Rum. All currencies are printed with national cultural elements such as the Bhutanese royal logo, dragon totem, etc. The polymer banknotes issued in 2015 have more anti-counterfeiting properties.

Historical Background and Development

Bhutan originally used the Indian rupee as a medium of exchange, and first issued its own currency in 1974 and established a peg with the Indian rupee. 1982, the Royal Monetary Authority of Bhutan was established to specialize in currency management, and a new series of banknotes was issued in 1993. 2006, currency reforms introduced high-denomination banknotes, and the first set of polymer banknotes was launched in 2015. Its monetary policy has always been closely linked with India, forming a unique monetary alliance.