Ngultrum


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Ngultrum

The currency of Bhutan. It was introduced in 1974, replacing the Bhutanese rupee. Like the rupee before it, the ngultrum is pegged to the Indian rupee at par.
References in periodicals archive ?
On the government's announcement of buying back unsold stock from farmers at 550 ngultrum per kg, KB Tamang said that it's a fair price in comparison to the market price from agents in Gelephu.
According to the notification, the government will buy back the unsold stock for 550 ngultrum per kg.
He harvested the same last year and sold it for 26,000 ngultrum per sack in February.
The RMA Governor Dasho Penjore said that the main problem was that the shortage of the Indian Rupee had affected the peg of the Ngultrum and Rupee.
To add to the loss, the selling pressure brought down the conversion rates of Indian currency in unofficial money markets as Indians also rushed to Bhutan to exchange the Rupee with Bhutani Ngultrums to wash their black money which created a glut of demonetized Indian rupees in Bhutan.
Another issue he said was that while many industries deposited all their cash in Indian Rupee, they could not get equivalent Ngultrums and as a result it was affecting loan payments to the banks.
Under this scheme the non-resident Bhutanese can open Non-Resident Bhutanese Foreign Currency Account and Non-Resident Bhutanese Ngultrum Account.
In the exchange rate developments, the Ngultrum averaged Nu 66.43 per US $ in the fiscal year, depreciating by 0.17% from the previous year.
According to the report, the Purchasing Power of Ngultrum (PPN) was recorded at Ngultrum 77 as of June 2017.
and we will be left gaping at idle turbines worth few hundred billion Ngultrums in loans at 10% interest rate.
When the government is spending millions of Ngultrums every year on the procurement and supplies of condoms, we should at least be able to use them responsibly and help the nation stay safe from such diseases.