The ngultrum has been the currency of Bhutan since 1974. It is subdivided into 100 chhertum (called chetrums on coins until 1979).
In 1974, the ngultrum was introduced, replacing the rupee at par. The ngultrum is equal in value to the Indian rupee.
In 2006, the Monetary Authority introduced its latest series of notes, with denominations of 1, 5, 10, 20, 50, 100, 500, and 1000 ngultrum.
Reverse: Taktsang Monastery
India was key in assisting the Bhutanese government as it developed its economy in the early 1960s. When the ngultrum was introduced, it retained the peg to the Indian rupee which the Bhutanese rupee had maintained. The ngultrum does not exchange independently with other nations' currencies but is interchangeable with the Indian rupee.
