BTN 1 | Bank Note | One Ngultrum | Kae Kae | CurrencyStackerKK | Bhutan | South Central Asia

1 Bhutanese Ngultrum

The Ngultrum (/əŋˈɡʌltrəm/; Dzongkha: དངུལ་ཀྲམ [ŋýˈʈúm], symbol: Nu., code: BTN) is the currency of the Kingdom of Bhutan.

It can be literally translated as ‘silver’ for ngul and ‘coin’ for tram. It is subdivided into 100 chhertum (Dzongkha: ཕྱེད་ཏམ [pt͡ɕʰɛ́ˈtám], 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.

The term derives from the Dzongkha ngul, “silver” and trum, a Hindi loanword meaning money.

The Ministry of Finance issued the first banknotes in 1974 denominated Nu.1, Nu.5, Nu.10 and Nu.100. This 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.

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