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5 Ngultrum
| Issuer | Royal Government of Bhutan |
|---|---|
| Year | 1981 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Printer | Thomas De La Rue & Company, London, United Kingdom |
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| Obverse description | Central vignette of the Bhutanese royal emblem — a circular guilloche medallion enclosing two confronted dragons above a crossed vajra (dorje) — flanked symmetrically by two intaglio-rendered mythical garuda-like birds facing inward. Dzongkha script inscription runs along the top border, with the issuer name "Bank of Bhutan" printed in English below the central emblem alongside a manuscript signature. Numeral "5" appears at each lateral margin within ornate scrollwork borders. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | ROYAL GOVERNMENT OF BHUTAN FIVE NGULTRUM པར་རོ་རྫོང་། PARO DZONG |
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| Comments |
Bhutan's paper currency program was still young in 1981 — the Royal Government had only introduced banknotes in 1974, replacing a barter-and-coinage economy that had persisted far longer than in neighboring states. Thomas De La Rue's involvement from the outset gave the early series a consistency of production quality that outlasted the political turbulence affecting other South Asian currencies of the period.
The P#7 is the second issue of the 5 Ngultrum denomination, distinguishable from the 1974 P#3 by subtle typographic and security differences. Watermark-only protection was already conservative by 1981 standards, but Bhutan's extremely limited circulation volumes made sophisticated counterfeiting economically pointless.