Catalog
1 Ngultrum
| Issuer | Royal Monetary Authority of Bhutan |
|---|---|
| Year | 1986-1990 |
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| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | 116 × 63 mm |
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| Printer | Log in to see details |
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| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | ROYAL MONETARY AUTHORITY OF BHUTAN SIMTOKHA DZONG ONE NGULTRUM དངུལ་ཀྲམ་གཅིག། |
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| Protection type | Log in to see details |
| Protection description | Text watermark reading ROYAL MONETARY AUTHORITY |
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| Comments |
Bhutan's Royal Monetary Authority was only established in 1982, replacing the Bank of Bhutan's currency functions, and this 1 Ngultrum issue falls squarely in the institution's early years of building an independent monetary framework. Thomas De La Rue's involvement was essentially inevitable — the printer handled a substantial portion of the world's smaller sovereign issuers during this period, and Bhutan had neither the infrastructure nor the print volumes to justify domestic production.
A watermark alone as the sole security feature reflects the modest counterfeiting risk attached to a low-denomination note in a country whose economy remained heavily non-monetized through the late 1980s.