Bhutan Ngultrum

Overview

The official currency of Bhutan is the Bhutan Ngultrum (BTN). The symbol for the Ngultrum is Nu. The currency is divided into 100 chhertum. The Ngultrum is pegged to the Indian Rupee at par. The only currency with which the Bhutan Ngultrum can be exchanged is the Indian Rupee.

Economy

• Bhutan has a small economy and the country is underdeveloped.
• The country is dependant on assistance from India.
• The main industries are tourism, wood products, cement, processed food, alcohol, fruits, and calcium carbide.
• The unemployment rate is estimated at 3%.
• Export products are cardamom, handicrafts, fruits, precious stones, gypsum, and special spices.
• Bhutan exports electricity to India.
• The growth rate for the industrial portion of the economy averages 9%.
• Import products are machinery, lubricants, rice, and fabrics.
• Bhutan was the first country to ban smoking and tobacco.
• Agricultural products are corn, rice, eggs, dairy products, citrus, root crops, and food grains.
• The economy market is mainly export.
• Production growth is currently 9.3%.
• The main indstries for Bhutan to develop are hydro-electric power and tourism.

History

• In 1974, the Ngultrum was introduced as the official currency of Buthan. Only 1, 5, 10 Buthan Ngultrum banknotes were issued.
• In 1978, 100, 50, 20, and 2 Bhutan Ngultrum banknotes were introduced.
• During the 1960s the Bhutan government focused on developing the economy.
• Bhutan started to print its own banknotes in 1985.
• The latest series of banknotes were introduced in 2006 by the Monetary Authorities in denominations of 1,000, 500, 100, 50, 20, 10, 5, and 1 Ngultrum.