NGULTRUM Meaning and
Definition
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The ngultrum is the official currency of Bhutan, a landlocked country in South Asia. It is denoted by the currency code BTN and the symbol Nu or Nu. The ngultrum is subdivided into 100 chhertum.
The ngultrum was first introduced in 1974, replacing the Bhutanese rupee at par value. It is issued and regulated by the Royal Monetary Authority of Bhutan, the country's central bank. Ngultrum banknotes are issued in various denominations, including 1, 5, 10, 20, 50, 100, 500, and 1,000.
The term "ngultrum" originates from the Tibetan language, where "ngul" means silver and "tru" means coin. The name reflects the historical tie to silver being used as a medium of exchange in the region. The currency plays a crucial role in Bhutan's economy, facilitating trade, commerce, and financial transactions within the country.
Since Bhutan is a relatively isolated country, the ngultrum is not widely traded internationally. However, it is pegged to the Indian rupee on a 1:1 basis due to Bhutan's strong economic ties with India. This fixed exchange rate ensures stability in the currency's value and facilitates trade between the two countries.
In summary, the ngultrum is the currency of Bhutan, subdivided into chhertum. It is issued by the Royal Monetary Authority of Bhutan and has a fixed exchange rate with the Indian rupee. The ngultrum plays a pivotal role in Bhutan's economy as a medium of exchange and store of value.
Common Misspellings for NGULTRUM
- bgultrum
- mgultrum
- jgultrum
- hgultrum
- nfultrum
- nvultrum
- nbultrum
- nhultrum
- nyultrum
- ntultrum
- ngyltrum
- nghltrum
- ngjltrum
- ngiltrum
- ng8ltrum
- ng7ltrum
- nguktrum
- nguptrum
- nguotrum
Etymology of NGULTRUM
The word "ngultrum" is the currency of Bhutan, a landlocked country in South Asia. The etymology of the word can be traced back to the Dzongkha language, which is the official language of Bhutan.
"Ngultrum" is derived from the Dzongkha phrase "ngultrum gyalrong", which translates to "silver" or "silver coin" in English. This phrase was historically used to refer to Indian silver rupees, which were in circulation in Bhutan before the country established its own currency. When Bhutan introduced its official currency in 1974, it was named the "ngultrum" as a tribute to the historic silver coins that were prevalent in the region.
