Currency in Bhutan
A practical currency and money guide to travel, living and doing business in Bhutan and the Bhutanese ngultrum (BTN).
What's in this Bhutan currency guide:
What currency is used in Bhutan?
The official currency of Bhutan (country code: BT) is the Bhutanese ngultrum, with symbol Nu. and currency code BTN.
Things to know about the Bhutanese ngultrum
Is Indian currency accepted in Bhutan?
A Ngultrum has the same value as the Indian rupee, the rupee is also legal in Bhutan. INR 100 & 50 Rupee denomination may be used in Bhutan, but Ngultrum cannot be used in India. Indian Rupee denomination note of INR 500, INR 1000 and INR 2000 are not accepted in Bhutan.
The physical Ngultrum currency consists of coins and banknotes. The coins come in denominations of 1 chetrum, 5 chetrum, 10 chetrum, 25 chetrum, and 50 chetrum. The banknotes come in denominations of 1 ngultrum, 5 ngultrum, 10 ngultrum, 20 ngultrum, 50 ngultrum, 100 ngultrum, 500 ngultrum, and 1,000 ngultrum. The banknotes feature images of famous Bhutanese historical figures, such as King Jigme Singye Wangchuck and Zhabdrung Ngawang Namgyal. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
Travel Ideas and Money Tips for Bhutan
Bhutan is a small, landlocked country located in the Himalayas in South Asia. It is known for its unique cultural and environmental policies, including the concept of Gross National Happiness.
Do I need a visa for Bhutan?
All visitors to Bhutan, except citizens of India, Bangladesh, and the Maldives, need a visa to enter the country. Visas are issued by the Bhutanese government through the Department of Immigration and are valid for the duration of your stay.
To apply for a visa, you will need to have a confirmed tour package with a Bhutanese tour operator, who will arrange the visa on your behalf. You will need to provide your passport details, a passport-sized photo, and a copy of your passport to your tour operator, who will then submit the application to the Department of Immigration.
The visa fee is included in the tour package and is paid to the Bhutanese government in advance. Once the visa is approved, your tour operator will provide you with a visa clearance letter, which you will need to present at the airport upon arrival in Bhutan.
It is important to note that Bhutan has a high-value, low-volume tourism policy, which means that the number of tourists allowed in the country is limited. It is a good idea to book your tour package well in advance to ensure that you are able to get a visa and visit Bhutan.
Expat Money & Business Guide to Bhutan
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Bhutan.
Doing business in Bhutan
Here are a few things to consider when doing business in Bhutan:
Understand the local market: Bhutan has a small population and a developing economy, and it is important to research the local market and understand the specific needs and preferences of consumers.
Be prepared for bureaucracy: Bhutan has a complex bureaucracy, and it can take time to navigate the various regulations and procedures required to do business in the country. It is a good idea to work with a local lawyer or business consultant to help navigate the process.
Build relationships: Building relationships is important in Bhutan, and it is a good idea to take the time to get to know your local partners and clients.
Be patient: Doing business in Bhutan can take time, and it is important to be patient and to be prepared for delays.
Learn the local language: The official language of Bhutan is Dzongkha, and it is a good idea to learn at least some basic Dzongkha, as this can help with communication and building relationships.
Overall, doing business in Bhutan can be challenging, but with the right preparation and approach it can also be a rewarding and profitable experience.
Can foreigners buy land in Bhutan?
A person has to be a Bhutanese citizen by birth, to buy land and own properties in Bhutan.
Managing your finances in Bhutan
Here we list some key points for expats and businesses to consider when managing financial dealings in Bhutan:
-
Understand Bhutanese ngultrum currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the BTN exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
-
Use a local Bhutanese ngultrum bank account: A local BTN bank account can make it easier for you to manage your finances and pay bills while you are in Bhutan. It may also be more convenient to use a local BTN bank account to make purchases and withdraw cash.
-
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Bhutan. This can help you avoid legal issues and ensure that you are complying with local requirements.
-
Consider the tax implications: It is important to understand the tax implications of living or doing business in Bhutan. This can help you plan your finances and ensure that you are paying the correct amount of tax.
-
Seek financial advice: If you are unsure of how to manage your finances in Bhutan, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
USD/BTN – Market Data
The exchange rate of Bhutanese ngultrum (BTN), or the amount of BTN that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest USD/BTN rate plus recent trend, chart, and historic rates.
| Date | USD/BTN | Change | Period |
|---|---|---|---|
17 Jan 2023 | 81.83 | 0.2% ▲ | 2 Week |
02 Nov 2022 | 82.67 | 0.8% ▼ | 3 Month |
31 Jan 2022 | 74.71 | 9.8% ▲ | 1 Year |
01 Feb 2018 | 63.79 | 28.5% ▲ | 5 Year |
02 Feb 2013 | 53.21 | 54.1% ▲ | 10 Year |
05 Feb 2003 | 47.70 | 71.9% ▲ | 20 Year |
Compare Bhutanese ngultrum Exchange Rates & Fees
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Bhutan or planning a trip or maybe living there, so will need to exchange and spend Bhutanese ngultrum.
Loading comparison rates...
| Provider | Amounts | Rate | Total Cost | |
|---|---|---|---|---|
|
|
|
|||
|
|
|
|||
|
|
|
|||
|
|
|
It is important to note that the exchange rate of the Bhutanese ngultrum can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect BTN exchange rates before making any financial decisions.
BER Send Money Guides
Send Money to India
Send Money to Canada
Send Money to USA
Send Money to UK
Send Money to Mexico
Send Money to Malaysia
Send Money to Europe
Send Money to Australia
Send Money to China
Send Money to Taiwan
Send Money to Poland
Send Money to Philippines
Where do you want to Save Sending Money?