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50 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 |
| Designer(s) | Log in to see details |
| 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 | Central vignette of Tongsa Dzong, the historic fortress-monastery, rendered in detailed intaglio engraving set against a mountainous background in green and purple tones. Winged Druk dragon motifs frame the composition at left and right, with the denomination '50' and 'FIFTY NGULTRUM' inscribed at lower centre alongside Dzongkha script. The heading 'ROYAL GOVERNMENT OF BHUTAN' runs across the top margin in English. |
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| Protection type | Log in to see details |
| Protection description | the royal emblem visible when held to light |
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| Comments |
Bhutan's first formal banknote series was introduced in 1974, replacing the earlier jatan and nganlong currency system that had functioned largely outside any central banking framework. The Royal Monetary Authority, established that same year, contracted Thomas De La Rue from the outset — a relationship that continued through this 1981 issue. The 50 Ngultrum was the highest denomination in the inaugural series, a notable choice for an economy still heavily reliant on barter in rural areas.
The watermark is the sole mechanical security feature, modest even by early 1980s standards.