DEFINITION of 'BTN (Bhutanese Ngultrum)'

The currency abbreviation for the Bhutanese ngultrum, the currency for Bhutan. The Bhutanese ngultrum is made up of 100 chhertum ("chetrums" before 1979) and is often presented with the symbol Nu. The word ngultrum is derived from the word "ngul" meaning "silver," in the Bhutanese Dzongkha language. Bhutanese ngultrum is controlled and issued by the Royal Monetary Authority of Bhutan.

BREAKING DOWN 'BTN (Bhutanese Ngultrum)'

The Bhutanese ngultrum was first seen in 1974, when it replaced the Indian rupee at 1:1. Tikchungs were backed by rupees and were used as currency until the early 1970s. Due to an inability to properly back the Tikchungs with rupees, they were phased out and rupees were kept as the main currency until 1974. The name for the coins changed from chetrum to chhertum in 1979 when new coins of the same value were issued. As of 2008, the ngultrum can be interchanged with the Indian rupee, and Indian banknotes and coins freely circulate in Bhutan.

RELATED TERMS
  1. Bhutan Ngultrum (BTN)

    The currency of Bhutan. The Bhutan Ngultrum, abbreviated as BTN ...
  2. INR (Indian Rupee)

    The currency abbreviation or currency symbol for the Indian rupee ...
  3. INR

    The currency abbreviation or currency symbol for the Indian rupee ...
  4. PKR (Pakistani Rupee)

    The currency abbreviation or currency symbol for the Pakistani ...
  5. MUR (Mauritius Rupee)

    The currency abbreviation for the Mauritius rupee (MUR), the ...
  6. LKR (Sri Lankan Rupee)

    The currency symbol for the Sri Lankan rupee (LKR), the currency ...
Related Articles
  1. Investing

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  2. Investing

    India’s Dollar Reserves Hit Record Levels

    According to a statement released by the Reserve Bank of India on Friday, India’s dollar reserves reached its record of $355.95 billion, capping a third consecutive week of growth and marking ...
  3. Insights

    Interesting Facts About Imports And Exports

    Imports and exports exert a profound influence on the consumer and the economy. Learn what affects these figures, and in turn how these figures affect the economy.
  4. Investing

    Three Currencies Benefiting From Low Oil Prices

    The Indian rupee is clearly the biggest beneficiary of the slide in oil prices, followed by the Indonesian rupiah and British pound.
  5. Insights

    Chinese Yuan Devaluation Can Impact India

    Learn why China's unexpected devaluation in August 2015 of its national currency, the yuan renminbi, could impact India’s economy.
  6. Investing

    5 Emerging Markets Currencies to Consider in 2016

    Take a look at five emerging market currencies that could show strength in 2016, despite expectations that most emerging economies will continue to struggle.
  7. Investing

    Indian Rupee Tumbles on Rajan’s Exit

    Markets disappointed with Indian RBI governor, Raghuram Rajan's decision to not seek a second term.
  8. Retirement

    The Cheapest Places to Retire in India

    Outside the major metroplexes of Mumbai and Delhi are many quieter locations ideal for retirees – and they offer less expensive living costs as well.
  9. Trading

    History Of Coinage In The U.S.

    From the barter system to commemorative coins, we look at the history of U.S. money.
RELATED FAQS
  1. When was the Bureau of Indian Affairs created?

    Formed on March 11, 1824, the Bureau of Indian Affairs is the oldest operating bureau within the United States Department ... Read Answer >>
  2. What risks does a Foreign Institutional Investor (FII) face?

    Read about the types of risks that a foreign institutional investor faces when trading in Indian stock exchanges and dealing ... Read Answer >>
  3. What are the most common market indicators to follow the Indian stock market and ...

    Learn about the most common market indicators used to follow the Indian stock market, including its two major exchanges: ... Read Answer >>
  4. What other options does an investor have to buying physical silver?

    Explore the various investment choices available for traders seeking to invest in the silver market, along with the advantages ... Read Answer >>
  5. How does a Foreign Institutional Investor (FII) manage currency risk when investing ...

    Find out how foreign institutional investors protect themselves against inflation and currency risks when investing in international ... Read Answer >>
  6. Can I invest in gold or silver with my Roth IRA?

    Learn how you can purchase gold coins and bars with your Roth IRA, or how you can diversify part of your assets by purchasing ... Read Answer >>
Hot Definitions
  1. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  2. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  3. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  4. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  5. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  6. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
Trading Center