# ngultrum

> currency of Bhutan

**Wikidata**: [Q201799](https://www.wikidata.org/wiki/Q201799)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Bhutanese_ngultrum)  
**Source**: https://4ort.xyz/entity/ngultrum

## Summary
The ngultrum (BTN) is the official currency of Bhutan, introduced in 1974 to replace the Bhutanese rupee. It is issued by the Royal Monetary Authority of Bhutan and is subdivided into 100 chhertum. The ngultrum is a fiat currency, meaning its value is determined by government policy rather than a physical commodity like gold.

## Key Facts
- **Currency Code**: BTN (ISO 4217 standard)
- **Subunit**: 100 chhertum
- **Issuer**: Royal Monetary Authority of Bhutan
- **Introduction**: Replaced the Bhutanese rupee in 1974
- **Official Name**: Bhutanese ngultrum
- **Symbol**: Nu (Nu.)
- **Country**: Bhutan (ISO 3166-1 alpha-2: BT)
- **Related Entity**: Replaces the Bhutanese rupee (1789–1974)
- **Wikidata ID**: Q8142 (instance of currency)
- **Named After**: The Bhutanese word for "gold" (Dzongkha: དངུལ་ཀྲམ)
- **Sitelinks**: 72 Wikipedia language editions
- **Aliases**: BTN, Bhutan currency, Bhutanese ngultrum
- **Unicode Symbol**: Nu (Nu.)
- **Exchange Rate**: 1 USD ≈ 0.0440315265730263 BTN (as of 2024)
- **Digital Representation**: /m/02gt45 (Google Knowledge Graph)
- **Lexical IDs**: 300310619 (WordNet), 741567 (BabelNet), 0126256 (Freebase)
- **Topic ID**: topic/ngultrum (Google Knowledge Graph)
- **Dzongkha Name**: དངུལ་ཀྲམ (Dzongkha script)
- **Korean Name**: 부탄 눌탐 (Romanized: Butan Nuldam)
- **Alternative Names**: Bhutaanse ngultrum (Dutch), ngultrum (English)
- **Concept ID**: a26f9186-3578-4a59-b702-c5ce24729ac0 (UNESCO Thesaurus)
- **Museum ID**: 500128 (Smithsonian Institution)
- **Wikipedia Title**: Bhutanese ngultrum (English edition)

## FAQs
**What is the ngultrum and how does it function in Bhutan?**
The ngultrum is Bhutan's official currency, introduced in 1974 to replace the Bhutanese rupee. It serves as a medium of exchange, unit of account, and store of value within Bhutan's economy. The Royal Monetary Authority of Bhutan issues and regulates the currency, which is subdivided into 100 chhertum.

**How does the ngultrum differ from other currencies like the Indian rupee?**
The ngultrum is distinct from the Indian rupee (INR) in several ways: it is issued by a separate central authority (Royal Monetary Authority of Bhutan), has its own ISO code (BTN), and is not pegged to the Indian rupee. While both are fiat currencies, the ngultrum is unique to Bhutan and reflects the country's independent monetary policy.

**What is the history of the ngultrum and how did it replace the Bhutanese rupee?**
The ngultrum replaced the Bhutanese rupee in 1974 as Bhutan transitioned from an absolute monarchy to a constitutional monarchy. The change was part of broader economic reforms aimed at modernizing Bhutan's financial system. The ngultrum was introduced to align with international monetary standards and facilitate trade with neighboring countries like India and China.

**How is the ngultrum used in everyday transactions in Bhutan?**
The ngultrum is used in cash transactions, digital payments, and financial services across Bhutan. It is accepted in banks, ATMs, and retail outlets, and its value is regulated by the Royal Monetary Authority of Bhutan. The currency is also used in international trade, though Bhutan's economy remains largely dependent on remittances and tourism.

**What is the significance of the ngultrum in Bhutan's economy and development?**
The ngultrum plays a crucial role in Bhutan's economy by facilitating trade, investment, and financial stability. Its introduction was part of Bhutan's broader development philosophy, which emphasizes Gross National Happiness over GDP growth. The currency supports Bhutan's goal of sustainable economic development while preserving its cultural and environmental heritage.

## Why It Matters
The ngultrum is a critical component of Bhutan's economic and political identity. As the official currency of Bhutan, it reflects the country's unique development model, which prioritizes Gross National Happiness over traditional economic indicators. The ngultrum's introduction in 1974 marked a significant shift in Bhutan's monetary policy, aligning it with international standards while preserving its cultural autonomy. This dual approach has allowed Bhutan to maintain economic stability while fostering a distinct national identity. The currency's role in facilitating trade, investment, and financial services underscores its importance in Bhutan's broader development strategy. By serving as a medium of exchange, unit of account, and store of value, the ngultrum supports Bhutan's goal of sustainable economic growth while preserving its cultural and environmental heritage.

## Notable For
- **First Independent Currency**: The ngultrum was Bhutan's first independently issued currency, replacing the Bhutanese rupee in 1974.
- **Unique Monetary Policy**: Bhutan's currency is issued by the Royal Monetary Authority of Bhutan, reflecting the country's constitutional monarchy.
- **Subunit Innovation**: The ngultrum is subdivided into 100 chhertum, a unique feature among global currencies.
- **Cultural Significance**: The ngultrum is named after the Bhutanese word for "gold," reflecting Bhutan's rich cultural heritage.
- **Economic Stability**: Bhutan has maintained a stable exchange rate for the ngultrum, contributing to its economic resilience.
- **Digital Representation**: The ngultrum has a dedicated entry in Google's Knowledge Graph, indicating its global recognition.
- **Multilingual Support**: The ngultrum's name is recognized in multiple languages, including Dzongkha, Korean, and Dutch.

## Body
### Currency Basics
The ngultrum (BTN) is the official currency of Bhutan, introduced in 1974 to replace the Bhutanese rupee. It is issued by the Royal Monetary Authority of Bhutan and is subdivided into 100 chhertum. The ngultrum is a fiat currency, meaning its value is determined by government policy rather than a physical commodity like gold. The currency is represented by the symbol Nu (Nu.) and has an ISO 4217 code of BTN. The ngultrum is used in cash transactions, digital payments, and financial services across Bhutan.

### Historical Context
The ngultrum replaced the Bhutanese rupee in 1974 as Bhutan transitioned from an absolute monarchy to a constitutional monarchy. The change was part of broader economic reforms aimed at modernizing Bhutan's financial system. The ngultrum was introduced to align with international monetary standards and facilitate trade with neighboring countries like India and China. The Royal Monetary Authority of Bhutan was established to oversee the currency's issuance and regulation.

### Economic Role
The ngultrum plays a crucial role in Bhutan's economy by facilitating trade, investment, and financial stability. Its introduction was part of Bhutan's broader development philosophy, which emphasizes Gross National Happiness over GDP growth. The currency supports Bhutan's goal of sustainable economic development while preserving its cultural and environmental heritage. The ngultrum is used in cash transactions, digital payments, and financial services across Bhutan.

### Monetary Authority
The Royal Monetary Authority of Bhutan is responsible for issuing and regulating the ngultrum. The authority was established to oversee the currency's issuance and regulation, ensuring its stability and integrity. The ngultrum is the only legal tender in Bhutan and is accepted in all financial transactions. The Royal Monetary Authority of Bhutan works closely with the government to implement monetary policy and maintain economic stability.

### International Recognition
The ngultrum has a dedicated entry in Google's Knowledge Graph, indicating its global recognition. The currency is also recognized in multiple languages, including Dzongkha, Korean, and Dutch. The ngultrum's name is recognized in the UNESCO Thesaurus, reflecting its cultural and historical significance. The currency has a dedicated entry in the Smithsonian Institution's database, further underscoring its global recognition.

### Cultural Significance
The ngultrum is named after the Bhutanese word for "gold," reflecting Bhutan's rich cultural heritage. The currency's design and symbolism are deeply rooted in Bhutan's traditions and values. The ngultrum is a symbol of Bhutan's identity and is used to promote the country's cultural heritage. The currency's name is recognized in multiple languages, including Dzongkha, Korean, and Dutch, reflecting its global recognition.

### Digital Representation
The ngultrum has a dedicated entry in Google's Knowledge Graph, indicating its global recognition. The currency is also recognized in multiple languages, including Dzongkha, Korean, and Dutch. The ngultrum's name is recognized in the UNESCO Thesaurus, reflecting its cultural and historical significance. The currency has a dedicated entry in the Smithsonian Institution's database, further underscoring its global recognition.

### Related Entities
The ngultrum is related to the Bhutanese rupee, which it replaced in 1974. The Bhutanese rupee was the official currency of Bhutan from 1789 to 1974. The ngultrum is also related to the Indian rupee, which is used in neighboring India. The ngultrum's exchange rate is regulated by the Royal Monetary Authority of Bhutan, ensuring its stability and integrity.

### Lexical Data
The ngultrum's name is recognized in multiple languages, including Dzongkha, Korean, and Dutch. The currency's name is recognized in the UNESCO Thesaurus, reflecting its cultural and historical significance. The ngultrum has a dedicated entry in the Smithsonian Institution's database, further underscoring its global recognition. The currency's name is recognized in Google's Knowledge Graph, indicating its global recognition.

### Authority Control
The ngultrum has a dedicated entry in the UNESCO Thesaurus, reflecting its cultural and historical significance. The currency has a dedicated entry in the Smithsonian Institution's database, further underscoring its global recognition. The ngultrum's name is recognized in Google's Knowledge Graph, indicating its global recognition. The currency's name is recognized in multiple languages, including Dzongkha, Korean, and Dutch.

## References

1. Freebase Data Dumps. 2013
2. GF WordNet