Bhutan Money

A brief introduction to Bhutan Money

Bhutan money is known as Ngultrum denoted by the symbol Nu. Soon after the introduction of Bhutan money, Ngultrum in the year 1974, it was kept at par with Indian money. Indian Government had extended immense help to the Kingdom of Bhutan.

For these reasons, Bhutan money was pegged with Indian currency. Long before Bhutan money was introduced, people carried out transactions by means of the barter system.

Barter system encompasses the trade of services or goods for the exchange of services and goods.

This was the method of trade prevalent during pre Ngultrum era. Bhutan money cannot be exchanged with all currencies of the world. Usage of currency commenced in the year 1960.One can exchange Ngultrum with Indian rupee. 100 subdivisions are present in Bhutan money.

Exchange rates of Bhutan money:

The exchange rate of Ngultrum or Nu against the American dollar was 46.50 in the year 2007.The month of January 2000, had seen Bhutan money, Nu at 44.942 against US dollar. USD$43.055, USD$41.259 and USD$36.313 were the exchange rates in the year 1999, 1998, 1997 respectively.

Subdivisions of Ngultrum:

Chetrums come in denomination of 20, 25, 50, 1Nu. Chetrums of 5 introduced in '74, '75, 5 chetrums introduced in '79, 10 chetrums introduced in '74, '75 are no longer used and not in circulation. The coins which are used till date are 25 chetrums, 50 chetrums and 1 Ngultrum.