Time Period: 1800-1970

Timeline

around 1800
Local minting of silver coins in the standard of Cooch Behar
around 1909
Issuance of Bhutanese copper coins by the Calcutta Mint
around 1929
Issuance of Bhutanese silver and copper coins by the Calcutta Mint:
- Silver coin without denomination, called "Che Tam" (= half coin, referring to the Cooch Behar ½ Rupees), probably corresponding to a ½ Indian Rupee
- Copper coin without denomination, called "Zang Tam" (= valid coin), probably corresponding to 1 Indian Paisa (¹⁄₆₄ Rupee)
around 1950
Issuance of Bhutanese nickel and bronze coins by the Calcutta Mint, probably corresponding to a ½ Indian Rupee and 1 Paisa
around 1966
Issuance of Bhutanese commemorative coins, denominated in Indian Rupees and "Ser Tam" (= gold coin) of 100 Indian Rupees

Time Period: 1974-

Currency: Bhutanese Ngultrum

Transition
1 : 1 Indian Rupee
Sub-units
Ngultrum / 100 Chetrum
ISO4217
BTN

Timeline

06.04.1974
Start of issuance of Bhutanese paper money and coins by the Ministry of Finance; the Indian currency remained in circulation
04.08.1982
Law on the establishment of the Royal Monetary Authority; effective upon constitution of the authority on 01.11.1983

Valuation Regimes

1974-
Fixed rate against Indian Rupee

Rate Arrangements

06.04.1974
Fixed
Indian Rupee at 1 : 1
±0.0%

End-year Forex Rates (Units per US Dollar)

Year
Code
Ratio
Rate
Delta
Comment
1974
BTN
1
8.08
±0.0%
fixed against INR
1975
BTN
1
8.92
-9.5%
fixed against INR
1976
BTN
1
8.73
+2.3%
fixed against INR
1977
BTN
1
9.72
-10.2%
fixed against INR
1978
BTN
1
7.78
+25.0%
fixed against INR
1979
BTN
1
7.79
-0.2%
fixed against INR
1980
BTN
1
7.72
+1.0%
fixed against INR
1981
BTN
1
9.10
-15.3%
fixed against INR
1982
BTN
1
9.69
-6.0%
fixed against INR
1983
BTN
1
9.47
+2.3%
fixed against INR
1984
BTN
1
12.33
-23.2%
fixed against INR
1985
BTN
1
12.17
+1.3%
fixed against INR
1986
BTN
1
13.09
-7.0%
fixed against INR
1987
BTN
1
12.97
+0.9%
fixed against INR
1988
BTN
1
15.42
-15.9%
fixed against INR
1989
BTN
1
16.22
-4.9%
fixed against INR
1990
BTN
1
18.28
-11.2%
fixed against INR
1991
BTN
1
25.71
-28.9%
fixed against INR
1992
BTN
1
28.84
-10.9%
fixed against INR
1993
BTN
1
31.32
-7.9%
fixed against INR
1994
BTN
1
31.38
-0.2%
fixed against INR
1995
BTN
1
35.84
-12.4%
fixed against INR
1996
BTN
1
35.84
0.0%
fixed against INR
1997
BTN
1
39.47
-9.2%
fixed against INR
1998
BTN
1
42.48
-7.1%
fixed against INR
1999
BTN
1
43.52
-2.4%
fixed against INR
2000
BTN
1
46.75
-6.9%
fixed against INR
2001
BTN
1
48.18
-3.0%
fixed against INR
2002
BTN
1
48.03
+0.3%
fixed against INR
2003
BTN
1
45.61
+5.3%
fixed against INR
2004
BTN
1
43.58
+4.7%
fixed against INR
2005
BTN
1
45.07
-3.3%
fixed against INR
2006
BTN
1
44.23
+1.9%
fixed against INR
2007
BTN
1
39.41
+12.2%
fixed against INR
2008
BTN
1
48.45
-18.7%
fixed against INR
2009
BTN
1
46.68
+3.8%
fixed against INR
2010
BTN
1
44.81
+4.2%
fixed against INR
2011
BTN
1
53.27
-15.9%
fixed against INR
2012
BTN
1
54.78
-2.8%
fixed against INR
2013
BTN
1
61.90
-11.5%
fixed against INR
2014
BTN
1
63.33
-2.3%
fixed against INR
2015
BTN
1
66.33
-4.5%
fixed against INR
2016
BTN
1
67.95
-2.4%
fixed against INR
2017
BTN
1
63.93
+6.3%
fixed against INR
2018
BTN
1
69.79
-8.4%
fixed against INR
2019
BTN
1
71.27
-2.1%
fixed against INR
2020
BTN
1
73.05
-2.4%
fixed against INR
2021
BTN
1
74.30
-1.7%
fixed against INR
2022
BTN
1
82.79
-10.2%
fixed against INR
2023
BTN
1
83.12
-0.4%
fixed against INR
2024
BTN
1
85.62
-2.9%
fixed against INR