On Wednesday, November 12, 2025, the Royal Monetary Authority (RMA) of Bhutan unveiled a new generation of ngultrum banknotes to commemorate the 70th Birth Anniversary of His Majesty the Fourth Druk Gyalpo.
Embodying Bhutan's spiritual and national essence, the series weaves together symbols of unity, stability, and prosperity, serving not only as currency but as a heartfelt national tribute to legacy and leadership.
Each denomination carries profound cultural and historical significance:
- The 100-ngultrum banknote celebrates the reign of the Fifth Druk Gyalpo, Jigme Khesar Namgyel Wangchuck (born 1980), the current King of Bhutan since 2006. He is pictured on the front. The reverse shows Tashichho Dzong, a Buddhist monastery and fortress on the northern edge of the city of Thimphu, on the western bank of the Wang Chu. It has traditionally been the seat of the Druk Desi, the head of Bhutan's civil government.
- The 500-ngultrum banknote pays tribute to the Fourth Druk Gyalpo, Jigme Singye Wangchuck (born 1955), who reigned from 1972 to 2006 and is the father of the current King. The reverse shows Punakha Dzong (the palace of great happiness), the administrative center of Punakha District in Punakha. Punakha Dzong was the administrative center and the seat of the Government of Bhutan until 1955 when the capital was moved to Thimphu.
- The 1000-ngultrum banknote honors the First King, Gongsar Ugyen Wangchuck (1862-1926), the founder and first king of Bhutan, who reigned from 1907 until his death. The reverse shows Trongsa Dzong, the largest fortified fortress-monastery in Bhutan, located in Trongsa in the center of the country. Built on a spur overlooking the gorge of the Mangde River, a temple was first established at the location in 1543.
The new banknote series, which will enter circulation beginning in January 2026, features advanced security elements and is printed on recyclable polymer substrate, making the notes more durable and environmentally sustainable than traditional paper currency.
The security features include:
- A large, complex, transparent window which contains a portrait of the current king.
- A highly reflective, mirror-like ink pattern.
- Tactile dots in different geometric shapes for the visually impaired.
- A small, second window. The note's denomination is seen from the front and a Bhutanese symbol is seen from the back.
- A dragon with an animated mane adorns the foil strip on both sides of the 500 and 1000. Three of its claws hold jewels that pulse when the note is tilted. The fourth claw holds a globe. At the bottom of the strip, the denomination moves from left to right.
According to the RMA, earlier banknotes will continue to circulate and remain legal tender.
