Bank Exchange Rates for Bhutan
Bank Exchange Rates for Bhutan Ngultrum. The foreign exchange rates for Bhutan also known as the ISO code BTN. Send money transfer online with us with the cheapest options.
Bank Exchange Rates for Bhutan Ngultrum
Bank Exchange Rates for Bhutan - BTN - Bhutan Ngultrum - Nu. Or Ch -The foreign exchange rates for Bhutan also known as the ISO code BTN or the Bhutan Ngultrum currency and as a symbol Nu. Or Ch.
The Bhutan Ngultrum replaced the rupee in Bhutan in 1974, at a 1:1 rate. The ngultrum does not exchange independently with other nation’s currencies but can be freely interchanged with the Indian rupee.
Currency Rate for Bhutan Ngultrum
Ngultrums subdivide into 100 chhertum, with 5, 10, 20, 25 and 50 chhertum coins in circulation, though 5 chhertum and 10 chhertum coins are rarely used and have mainly ceased circulating.
BTN currencies & Bhutan Overview?
BTN Bhutan Ngultrum) is the official currency of Bhutan. The word 'ngultrum' comes from the ancient language Bhutanese Dzongkha language. 'Ngul' means silver. The currency is divided in 100 chhertum and the symbol is 'Nu'. The Royal Monetary Authority of Bhutan controls and issues the Bhutanese currency.
Are there any restrictions on the amount of money taken into Bhutan?
As per the Export and Import policy of 2003, anyone bringing in $10,000 or more has to declare the amount with the customs authority in Bhutan. There is no limit on bringing Indian currencies; however, the denomination should be not more than 500INR. 1000 INR note is illegal in Bhutan.
What are the substitute currencies in Bhutan and why?
The only other currency which is legal in Bhutan is the Indian currency - 'INR'. We can't use any other currency for receiving or making payments. The INR is legal as the Ngultrum is pegged to the Indian rupee at par i.e. 1:1.
Bhutan Brief Economic Trend?
Bhutan is a under-developed country where the economy is dependent on export. Cardamom, handicrafts, fruits and precious stones are exported highly from Bhutan. The main industry in Bhutan is tourism and hydro-electric power. The current production rate is approx. 9% and the unemployment rate is about 3%. Bhutan is the 1st country in the world to have banned smoking and use of tobacco. The country is dependent on India for providing help on various issues.
The Industrial growth rate is at 9%. The main agricultural products of Bhutan are root crops, dairy products, corn, rice and food grains. Mainly it imports machinery, lubricants and fabrics. The total value of exports and imports taken together equals to 116% of the countries' GDP. The Public sector has been the main source of economic growth. Lately the government is encouraging private sector too. The country has made astonishing development in modernizing its
Currency Rate for Bhutan
Quick Facts about Bhutan?
Bhutan Population - 0.8 million
Bhutan GDP (PPP) - $6.4billion
Bhutan Per capital - $8, 201
Bhutan FDI Inflow - $12.1 million
Main Country Banks in Bhutan?
The Royal Monetary Authority of Bhutan: In 1982, this bank was established which served as the Central bank of Bhutan. The Bank was responsible for all the transactions and financial permissions all over Bhutan. Till 1988, the Bank was also involved in the administration for the rural development in the country.
The Bank of Bhutan: Established in 1968, the Bank of Bhutan had a joint venture with Australia, China and Chartered Bank of India. Later in 1970, the 25% share of Chartered Bank of India was transferred to the State Bank of India. There are around 47 branches of this bank in Bhutan. The Bank is responsible for giving large long term loans for the national projects of Bhutan.
The Bhutan Development Finance Corporation: Established in 1988, primarily to look into the rural development. The Bank gave loans for livestock, farmlands and for meeting seasonal requirements. In its initial years, Asian Development Bank funded the bank. An amount of US$2.5 million.