The ngultrum is the currency of Bhutan, introduced in the early 1970s as the country developed its own monetary system. Its name comes from the Dzongkha language, and it is divided into one hundred chhertum. The currency is pegged at par to the Indian rupee, which also circulates freely in Bhutan, a reflection of the close economic ties between the two countries. Before its introduction Bhutan had used Indian currency and a mixture of older coins. The ngultrum is issued by the Royal Monetary Authority of Bhutan, and its value has depended on the rupee's exchange rate.
Before and after
- 29 November 1973Birth of Ryan Giggs
- 1 December 1973Death of David Ben-Gurion
- 3 December 1973Pioneer 10 flies past Jupiter
- 1974Origins of Berlin Marathon
- 1974Introduction of ngultrum
- 1974Creation of CP/M
- 1974Invention of Sed
- 1974Waterloo
- 1974Construction of Estádio Nacional de Brasília
More in Society, economy & sport
- 24 October 1945Founding of United Nations Security Council
- 5 May 1949Founding of Council of Europe
- 1952Founding of European Parliament
- 15 June 1954Founding of Union of European Football Associations
- 1985Introduction of new shekel
- 1990Rise of K-pop
The era
This moment belongs to the Contemporary world (1945 CE to today), the world since 1945. You can also browse everything in the 20th century.