Bhutan Ngultrum (BTN)

Bhutan Ngultrum (BTN) is the official currency of Bhutan, a small landlocked country located in the Eastern Himalayas in South Asia. Here are some detailed information about Bhutan Ngultrum:

1. History: Bhutan used to rely on Indian rupees as the official currency until 1974 when the Royal Monetary Authority of Bhutan was established, and the Bhutan Ngultrum was introduced as the country’s official currency. The Ngultrum was initially pegged to the Indian rupee at a 1:1 exchange rate.

2. Denominations: The Bhutan Ngultrum is divided into denominations of 1, 5, 10, 20, 50, 100, 500, and 1000 Ngultrum notes. There are also coins available in denominations of 25 and 50 Chetrum, as well as 1, 5, and 10 Ngultrum.

3. Symbol and Code: The symbol used to represent the Bhutan Ngultrum is “Nu.” The currency code for Bhutan Ngultrum is BTN, as defined by the International Organization for Standardization (ISO 4217).

4. Issuance and Control: The Royal Monetary Authority of Bhutan is responsible for the issuance and control of the Bhutan Ngultrum. It manages the supply of currency in the country and regulates monetary policies to maintain price stability and economic growth.

5. Exchange Rate: The Bhutan Ngultrum is still pegged to the Indian rupee at a fixed exchange rate of 1 Ngultrum = 1 Indian rupee. This pegging arrangement helps to maintain stability in trade and economic relations between Bhutan and India.

6. Usage: The Bhutan Ngultrum is the primary currency used for all transactions within Bhutan. It is widely accepted in local markets, shops, and businesses throughout the country. However, it is not a widely traded currency internationally, and it may be challenging to exchange outside of Bhutan.

7. Tourism: Bhutan is known for its unique tourism policy that requires visitors to pay a daily fee to enter the country. This fee is usually quoted in US dollars, but tourists can pay in Bhutan Ngultrum as well.

8. Currency Restrictions: Bhutan has certain restrictions on the import and export of its currency. Travelers entering or leaving Bhutan are required to declare any amount exceeding 500,000 Ngultrum.

It’s important to note that Bhutan is a relatively small and isolated economy, and its currency may not be widely recognized or accepted in international markets. Therefore, it is advisable to exchange any Bhutan Ngultrum back to your home currency before leaving the country or use it for local expenses during your visit to Bhutan.