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The ngultrum is the official currency of Bhutan, the country used for all monetary transactions within its borders. It matters because it represents Bhutan's financial independence and is essential for conducting everyday commerce, trade, and economic activities both domestically and internationally.
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Encyclopedic overview
The ngultrum (/əŋˈɡʊltrəm/ əng-GUUL-trəm or /əŋˈɡuː(l)trəm/ əng-GOO(L)-trəm; Dzongkha: དངུལ་ཀྲམ, IPA: [ŋýˈʈúm], lit. 'silver coin'; symbol: Nu., code: BTN) is the currency of the Kingdom of Bhutan. It is subdivided into 100 chhertum (Dzongkha: ཕྱེད་ཏམ, IPA: [pt͡ɕʰɛ́ˈtám], lit. 'half [coin]'; spelled as chetrums on coins until 1979). The Royal Monetary Authority of Bhutan, the central bank of Bhutan, is the minting authority of the ngultrum banknotes and coins. The ngultrum is currently pegged to the Indian rupee at parity.
History
Excerpted from Wikipedia’s “ngultrum” article, available under the CC BY-SA 4.0 licence.
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