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200 Ngultrum Year of the Rat

Issuer Royal Monetary Authority of Bhutan
Year 2020
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Weight 31.1 g
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Obverse script Latin/Tibetan
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Reverse description Central field presents a stylised rat rendered in a decorative paper-cut artistic idiom, depicted in profile with a curled body and floral scroll detailing, set within an ornate cartouche of swirling foliate motifs. Small dot ornaments are evenly distributed around the inner field border. The legend 2020 YEAR OF THE RAT arcs along the upper rim in Latin lettering. At the base, within a ribbon-style banner, the denomination NU.200 is inscribed in large characters, with the fineness statement 1 OZ 999 FINE SILVER appearing immediately below in smaller lettering.
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Bhutan's lunar series coins are struck specifically for the collector export market — the ngultrum itself has been effectively non-convertible and tightly controlled since the Royal Monetary Authority was established in 1982, making commemorative silver issues the primary vehicle through which Bhutanese coinage reaches international hands. The Year of the Rat holds particular resonance in the Tibetan-influenced Bhutanese calendar, where it opens a new 60-year cycle.

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