Bhutan, a kingdom nestled in the eastern Himalayas, is known for its stunning landscapes, rich culture, and unique approach to development. Among the many aspects that make Bhutan distinct is its currency, the Bhutanese Ngultrum.
If you intend to travel to Bhutan or you're looking at a potential currency exchange, knowing more about the Bhutanese Ngultrum is necessary.
Whether you're traveling from India or another part of the world, this is everything you need to know about the Bhutan currency.
What Is The Bhutanese Ngultrum?
The currency in Bhutan is known as the ngultrum. The monetary symbol when referenced at an exchange facility is "Nu."
Should you decide to look the currency up through a Forex trading service, it will either be listed as Nu or under the code "BTN" (short for Bhutanese Ngultrum). A single Ngultrum is divided into 100 Chetrum.
Anything under Nu. 1 comes in coin form. All paper denominations include the Nu.1, Nu. 5, Nu. 10, Nu. 20, Nu. 50, Nu.100 and the Nu. 500.
As the value of the bill increases so too does the size (while the Nu.
500 is slightly smaller than the Nu. 100, it is not commonly circulated). There is also a recently released Nu. 1,000 bill, although much like the Nu. 500 this is rarely used in day to day life.
Minting And Indian Rupee Pegging
The Bhutan ngultrum is minted within Bhutan by the Royal Monetary Authority of Bhutan. As the Kingdom of Bhutan is a smaller nation without major exports, the country has pegged its currency value to that of the Indian rupee.
This has been a commonality since 1974 when new financial reform took place within the Kingdom of Bhutan. The exact exchange rate does vary slightly yet remains connected to the Indian rupee. Currently, as of 13 June, 2017, 1 Bhutanese ngultrum is equal to 1 Indian rupee.
Chetrum come in 2 variations
Ch.25, Nu. 1
The Banknote comes in 8 variations
Nu1, 5,10,20,50,100,500,1000
The Design And Features Of Bhutanese Banknotes And Coins
Over the years, the Royal Monetary Authority of Bhutan had issued a number of commemorative notes to celebrate important milestones of the Kingdom of Bhutan. They include the Royal Wedding in October 2011 and The Birth of the Gyalsey (Crown Prince) in 2016.
Bhutanese currency is known for its distinctive design and vibrant colors. The Ngultrum notes feature various aspects of Bhutanese culture, history, and natural beauty, making them not just a medium of exchange but also a representation of the nation's heritage.
Banknotes
The Bhutanese Ngultrum is issued in 1, 5, 10, 20, 50, 100, 500, and 1,000 Nu denominations. Each note showcases different elements of Bhutanese culture and landscape:
1 Nu Note: Features a traditional Bhutanese mask, symbolizing the country's rich cultural traditions.
5 Nu Note: Depicts the Thimphu Dzong, an iconic Bhutanese fortress.
10 Nu Note: Showcases a Bhutanese farmer, highlighting the country's agricultural heritage.
20 Nu Note: Illustrates a traditional Bhutanese dance, reflecting the country's vibrant performing arts.
50 Nu Note: Features the majestic Tiger's Nest Monastery, a revered Buddhist site.
100 Nu Note: Depicts the Bhutanese Royal Family, underscoring the monarchy's importance in Bhutanese society.
500 Nu Note: Shows the Great Buddha Dordenma statue, symbolizing peace and prosperity.
1,000 Nu Note: Features the majestic Druk Wangyal Lhakhang temple, celebrating Bhutanese architecture and religion.
Bhutanese Coins
Bhutanese coins are available in denominations of 1, 5, 10, and 20 Chhertum, although coin use is less common in modern transactions. The coins often feature traditional Bhutanese symbols and designs, adding to their cultural value.
Commemorative Issues
Over the years, the Royal Monetary Authority of Bhutan had issued a number of commemorative notes to celebrate important milestones of the Kingdom of Bhutan.
They include the Royal Wedding in October 2011 and The Birth of the Gyalsey (Crown Prince) in 2016.
Bonus Tip: Keep Your Receipts!
When buying handcrafted goods or antiques from a local village you may receive a paper receipt. During your departure, you may be required to show proof of purchase should you purchase antique goods in Bhutan.
When using currency exchange, banks and making larger purchases and receipts are issued, make sure to hold onto these documents. You may be required to provide the paperwork when exchanging the money back to the Indian rupee or another currency upon leaving the country.
Conclusion About The Bhutanese Currency
The Bhutanese Ngultrum is more than just a currency. It represents Bhutan's cultural heritage and economic resilience. With its rich history, distinctive design, and crucial role in domestic and international transactions, the Ngultrum is integral to Bhutan's identity.
As Bhutan continues to evolve, so will its currency, adapting to new challenges and opportunities while preserving its unique character.
Plan your visit with our Bhutan travel packages. Learn the best time to travel to Bhutan and manage your budget with insights on the Bhutan travel cost.
For a luxurious experience, explore our luxury travel in Bhutan options. If you're traveling from Malaysia, our guide on travel to Bhutan from Malaysia will help you plan. Druk Asia, the best Bhutan travel company, ensures a seamless and enjoyable travel experience.
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Frequently Asked Questions About The Bhutanese Currency
I'm Traveling To Bhutan And Need Ngultrum. How Can I Get Some For My Trip?
Although Bhutanese Ngultrum is only in circulation in Bhutan, Travelers can always opt to convert some of their foreign currencies to Ngultrum upon arrival, or at the banks of Bhutan.
If you are carrying USD to exchange in Bhutan, we suggest carrying 100 USD notes as the notes have better exchange value compared to USD in lower denominations.
Important: Do note that Bhutan only accepts 10 major foreign currencies for exchange: U.S. Dollar, Pound Sterling, Euro, Japanese Yen, Swiss Franc, Hong Kong Dollar, Canadian Dollar, Danish Kroner, Australian Dollar and Singapore Dollars.
Otherwise, since Ngultrum are pegged to Indian Rupees, travelers can always opt to carry rupee with them. Indian Rupees are widely accepted in Bhutan However, Indian Rupee denomination notes of INR 500, INR 1000 and INR 2000 are not accepted in Bhutan.
I Just Returned From Bhutan And Have Spare Ngultrum. Where Can I Exchange It?
Since Bhutanese Ngultrum is only circulated in Bhutan, your chance of exchanging your Bhutanese Ngultrum in your countries is close to nil. This is because Ngultrum is not widely accepted yet.
Hence, we suggest that prior to your return from Bhutan, you should spend your remaining Ngultrum! During travel, exchange your currencies as needed.
I Don't Plan To Carry Much Cash To Bhutan. Are Credit Cards Widely Accepted?
At the moment, not all places in Bhutan accept credit cards and at times credit card machines may fail during the transaction. Further, certain credit cards may not be accepted in Bhutan. Most international cards will not be able to withdraw money from Bhutan local ATMs as well.
We suggest our travelers carry cash during their travel to Bhutan.
Should there be emergencies where you require to borrow some money, you can always contact us and our office in Bhutan will try our best to assist you. You can return it to us after your return from your trip to Bhutan.
Should I Exchange Some Indian Rupees Prior To My Departure?
You do not need to. The closest money changer you will find upon entering Bhutan will be at Paro International Airport.
If you are traveling with us, food, lodging as well as accommodations are already arranged for. Hence, most of our guests spend close to nothing during their trip to Bhutan.
Should you wish to purchase souvenirs during your trip, you can exchange your money at the local banks or market.
Are There Any Restrictions On The Amount Of Bhutan Ngultrum That Can Be Imported Or Exported?
Bhutan has specific regulations regarding the import and export of currency. Travelers can carry up to 25,000 Ngultrum into or out of the country without declaring it. Amounts exceeding this limit must be declared to customs authorities.
