History
In 1974, the ngultrum was introduced, replacing the rupee at par. The ngultrum is equal in value to the Indian rupee.
India was key in assisting the Bhutanese government as it developed its economy in the early 1960s. When the ngultrum was introduced, it retained the peg to the Indian rupee which the Bhutanese rupee had maintained. The ngultrum does not exchange independently with other nations' currencies but is interchangeable with the Indian rupee.
Read more about this topic: Bhutanese Ngultrum
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