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Encyclopedia > Ngultrum

The ngultrum is the currency of Bhutan, subdivided into 100 chertrums. It is equal in value to the Indian Rupee. As of January 7, 2005, there are 43.8400 Ngultrums to the US dollar or 57.2443 to the Euro.


India was key in assisting the Bhutanese government as it developed its economy in the early sixties. When the Ngultrum was introduced in 1974 the Bhutanese pegged it with the Indian Rupee. It does not exchange independently with other nations, but is exchanged interchangeably with the Indian Rupee.


Before the introduction of the Ngultrum Bhutan didn't have a currency. The people bartered for goods that they couldn't produce themselves.


Coins in circulation

  • 5 Chertrum
  • 10 Chertrum
  • 25 Chertrum
  • 50 Chertrum
  • 100 Chertrum
  • 1 Ngultrum

Banknotes in circulation

  • 1 Ngultrum
  • 2 Ngultrum
  • 5 Ngultrum
  • 10 Ngultrum
  • 20 Ngultrum
  • 50 Ngultrum
  • 100 Ngultrum
  • 500 Ngultrum

For further research:

  • Analysis of Pegged Exchange Rate Between Bhutan and India (http://www.bhutanstudies.org.bt/journal/vol8/v8-7.pdf)

  Results from FactBites:
 
Bhutanese ngultrum - Wikipedia, the free encyclopedia (208 words)
The ngultrum is equal in value to the Indian rupee.
As of January 7, 2005, there are 43.8400 ngultrums to the US dollar or 57.2443 to the euro.
When the ngultrum was introduced, it retained the peg to the Indian rupee which the Bhutanese rupee had maintained.
Welcome to Dragon Tours (906 words)
The ngultrum is at par with the Indian Rupee and can also be used.
The Ngultrum to the US $ is 48 : 1 as of June 10, 2002.
Ngultrum or rupees will be what you will need for your purchases while in the more rural towns and villages.
  More results at FactBites »

 
 

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