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500 Ngultrum

Issuer Royal Monetary Authority of Bhutan
Year 2000
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Size 160 × 70 mm
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Reverse description Central vignette of Punakha Dzong, the historic fortress-palace at the confluence of the Mo Chhu and Pho Chhu rivers, rendered in a detailed architectural engraving with surrounding hillside and trees. The issuer's name appears in English along the upper margin, with the denomination in words across the lower portion. A blank watermark circle is positioned at right, and a decorative floral rosette underprint frames the composition.
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Protection description a portrait visible when held to light; embedded security thread running vertically through the note
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Comments

Bhutan's Royal Monetary Authority introduced the 500 Ngultrum in 2000 as the highest denomination in the series at that time, a reflection of steady inflation across the preceding two decades rather than any acute monetary crisis. Thomas De La Rue's production quality on this series is solid but unremarkable by their standards — no unusual printing technique distinguishes it from the firm's broader South Asian output of the period.

Security provision is modest: a single embedded thread and watermark, with no optically variable device or color-shifting ink. For a note of this face value, that's a relatively thin security package by 2000 standards.

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