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Understanding the Ngultrum: Currency Features, Security, and Note Exchange Policies

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The Ngultrum is the currency of Bhutan with denominations ranging from Nu. 1 to Nu. 1,000. Understanding the features and policies associated with Ngultrum notes is crucial for handling and recognizing currency effectively. This includes insight into the Clean Note Policy aimed at enhancing the durability of notes, criteria for exchanging mutilated or soiled notes at the Royal Monetary Authority (RMA) and commercial banks, and security features designed to prevent counterfeiting, such as micro lettering and watermarks. Learn more about the Ngultrum and its significance in Bhutan.

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Understanding the Ngultrum: Currency Features, Security, and Note Exchange Policies

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Presentation Transcript

  1. Currency – Ngultrum Notes

  2. Topics coverage • Currency background • Clean Note awareness • Note Refund aspects • Counterfeit Notes • Security features of the Notes

  3. Background on Currency • Currency Note issuance • Notes available - Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500 & Nu.1,000 • New Notes available at the RMA & Commercial Banks • New series & old series Notes in circulation • Notes & Coins in circulation – Nu.5.44 billion as on 10.3.2010

  4. Clean Note Policy • Objective – durability & increase the life of the currency note • No stapling on notes • No writing/scribbling on notes • Tearing/crumpling of notes not permissible • ATM usage • Soiled Notes • Notes setting into fire • Cost of printing/replacement very high

  5. Note Refund by RMA & Commercial Banks • Mutilated/torn/burnt/defaced notes are exchanged at face value • Note refund subject to certain criteria: • Torn note but undivided larger piece should be more than 60% intact – full value refund • Torn note piece of near 50% - full value refund • Torn note into smaller pieces – no refund • Burnt notes in fire accident (special case)

  6. Full Value Refund

  7. Half Note – Full Value Refund PAY HALF DATE & SIGN PAY HALF DATE & SIGN

  8. Burnt Note – Full Value Refund (Speical case)

  9. Counterfeit • Counterfeiting - a part of the system • Experience – approx. 30 pieces in a year • Mostly Nu.100 • Notes have high security features to deter counterfeiting of notes • Currency Verifier, UV light, Sorting Machines • Print & paper quality

  10. Security features on Notes • Intaglio microlettering • Embossed feature • Embedded security thread • 3 dimentional mould-made watermark • Peak showing denominational figure • Iridescent feature • Recognition feature for the blind (embossed)

  11. Security features on Notes

  12. Intaglio-Micro Text Line

  13. Security Thread

  14. Windowed clear-text thread

  15. 3-Dimensional mould-made Water mark

  16. PEAK®(Printed and Embossed Anti-Copy Key)

  17. Iridescent Feature

  18. For further information, visit RMA website rma.org.bt Tashi Delek

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