BTN / ZAR

The Ngultrum is the official currency of the Kingdom of Bhutan, introduced in 1974 to replace the Indian rupee as the primary legal tender. It is pegged at a one‑to‑one rate with the Indian rupee, and the Indian rupee continues to circulate alongside the Ngultrum, especially in border areas and for tourism.

Issued by the Royal Monetary Authority of Bhutan, the Ngultrum is subdivided into 100 chetrum. Coins are minted in denominations of 5, 10, 20, 25, 50 chetrum and 1, 2, 5, 10 Ngultrum, while banknotes range from 10 to 1,000 Ngultrum, often featuring the reigning Druk Gyalpo and iconic Bhutanese motifs. A quirky aspect of Bhutan’s monetary system is the dual‑currency arrangement, where both Ngultrum and Indian rupee are accepted without conversion, reflecting the close economic ties with neighboring India.