BANKNOTES OF BHUTAN
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Date	Pick#	Denomination	Observations	Obverse	Reverse
1986	12	1 Ngultrum	Sign 3
Obverse Design: Government crest in the center with two dragons on either side. Reverse Design: Simidkha Dzong
1986	14	5 Ngultrum
Obverse Design: The Government crest in the center with two mythical bird ( Bja Tshering), the bird of long life at both right and left sides Reverse Design: Paro Rinpung Dzong.
2000	22	10 Ngultrum
Obverse Design: The Governmen crest on the left. Dungkar (conch) one of the eight lucky signs in the center. Portrait of His Majesty Jigme Singye Wangchuck on the right. Reverse Design: Paro Rinpung Dzong
2000	23	20 Ngultrum
Obverse Design: The Government crest on the left. Khorlo ( Wheel of Dharma , one of the eight auspicious signs) in the center. Portrait of the third King His Majesty Jigme Dorji Wangchuck on the right. Reverse Design: Punakha Dzong
2000	24	50 Ngultrum
Obverse Design: The Government crest on the left. Khorlo Wheel of Dharama, one of the eight auspicious signs in the center. Portrait of the third King His Majesty Jigme Dorji Wangchuck on the right. Reverse Design: Trongsa Dzong with two mythical bird Bja Tshering (bird of long life) at both ends.
2000	25	100 Ngultrum
Obverse Design: Crossed Dorji (Dorji jardrum) watermark on the left. Norbu Rimpochhe, one of the seven auspicious gems in the center. Portrait of His Majesty Jigme Singye Wangchuck on the right. Reverse Design: Tashichho Dzong with two dragons at top ends.
2001	26	500 Ngultrum
Obverse Design: Crossed Dorji (Dorji jardrum) watermark on the left. Norbu Rimpochhe incircled by two Dragons, one of the seven auspicious gems in the center. Portrait of His Majesty Ugyen Wangchuck on the right. Reverse Design: Punakha Dzong
2007	NEW	1 Ngultrum
2007	NEW	5 Ngultrum
2007	NEW	20 Ngultrum
2007	NEW	500 Ngultrum

The history of the currency of the Bhutan
The first coins in Bhutan were introduced around the 1790’s which were bad imitations of the coins issued by the Cooch Bihar Kingdom. The Indian rupee has circulated in Bhutan since 1907 and it remains legal tender in Bhutan today. Bhutan first issued rupee coins in 1928 at par with the Indian rupee, and introduced the ngultrum in 1974 again at par with the Indian rupee. The ngultrum is divided into 100 chertrums. The ngultrum’s ISO 4217 code is BTN. Banknotes are currently issued by the Royal Monetary of Bhutan, who took over the responsibilities from the Royal Government of Bhutan in 1983.

At present coins circulate in denominations of 20, 25, 50 chertrum and 1 ngultrum. The 5 and 10 chertrum coins have been discontinued. Banknotes are issued in 5, 10, 20, 50, 100 and 500 ngultrum. The 1 and 2 ngultrum notes were discontinued but remained legal tender. In 2007 a new series of banknotes was introduced and it was decided to again issue 1 Ngultrum notes.

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Page created:     6 June 2006
Last Update:       9 July 2007

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