ngultrum

Bhutan’s unit of currency adopted in 1974. In November 1990, the official exchange rate was US$1 equals ngultrum (Nu) 17.95 and at par with the Indian rupee (Nu1 = Rs1). There are 100 chetrum (Ch) in one ngultrum. There are 5, 10, 25, and 50 chetrum cupro- nickel coins and a 1 ngultrum bronze coin, and 1, 2, 5, 10, 20, 50, and 100 ngultrum notes. Large ngultrum amounts are counted using the Sanskrit terms lakh (100,000) and crore (10 million); thus Nu1 lakh = Nu 100,000 and Nu 1 crore = Nu10 million). The term is derived from the Dzongkha ngul, meaning silver, and trum, probably a Hindi word, meaning money. Before 1957 Indian and Bhutanese coins circulated in nondecimal paisa and rupee denominations (1 rupee = 64 paisa); after the decimal system was adopted in 1957, paisa, rupee, and sertum circulated (1 sertum = 100 rupees; 1 rupee = 100 paisa).

Source: Library of Congress