In a profound celebration of legacy, leadership, and national reverence, the Royal Monetary Authority of Bhutan (RMA) has announced the introduction of a new series of Ngultrum banknotes on 12 November 2025, to commemorate the 70th Birth Anniversary of His Majesty the Fourth King, Jigme Singye Wangchuck, the visionary monarch who guided Bhutan into a modern constitutional democracy rooted in Gross National Happiness.

The Next Generation of Ngultrum

The New Generation of Ngultrum Banknotes marks a significant step in Bhutan’s monetary evolution. These polymer-based notes feature the latest security enhancements and are recyclable, sustainable, and longer-lasting compared to traditional paper currency. The use of polymer substrate — now adopted by many nations — ensures that Bhutan’s currency remains durable and environmentally conscious.

Importantly, all previously issued Ngultrum notes will remain legal tender. There will be no expiry on existing notes, allowing both old and new series to circulate harmoniously for years and even decades to come.

A Tribute Woven in Heritage

This new series is more than a currency redesign — it is a visual anthology of Bhutan’s national heritage, interlacing history, spirituality, and royal legacy. Each denomination tells a distinct story, tracing Bhutan’s journey from a unified kingdom under visionary kings to a nation admired worldwide for its values of balance and happiness.

Nu. 1000 – Honouring the First King

The highest denomination, Nu. 1000, pays tribute to His Majesty King Ugyen Wangchuck, the First King of Bhutan. The obverse bears a dignified portrait of His Majesty, seated against the Wheel of the Universal Ruler and adorned with the sacred Raven Crown, symbolising the unbroken lineage inherited from his father, Desi Jigme Namgyel. It reflects the unity and strength that laid the foundation for Bhutan’s sovereignty.

On the reverse, Trongsa Dzong — the ancestral home of the Wangchuck dynasty — stands proudly as the centrepiece. The State Seal and a pair of great hornbills flank the fortress, representing Bhutan’s cultural and natural richness. Above, the Garuda and dragons soar across the skies, guarding the kingdom and symbolising protection and prosperity, just as Bhutan’s monarchs have done through generations.

Nu. 500 – A Tribute to the Great Fourth

With deep reverence and gratitude, the Nu. 500 note is dedicated to His Majesty the Fourth King, Jigme Singye Wangchuck. The obverse portrays His Majesty against a backdrop of the cross-vajra, a sacred symbol of indestructibility and enduring stability — reflecting the pillars he gifted to the nation: the Constitution and Gross National Happiness.

The reverse design captures the spiritual essence of Bhutan. The Punakha Dzong, built in 1638 and resting place of Zhabdrung Ngawang Namgyal, represents the country’s spiritual heart. Above it, the Khamsum Yulley Namgyal Chorten, consecrated in 1999, radiates peace and protection. The State Seal beside the dzong signifies the harmony between spiritual and temporal authority, while two delicate Bhutan Glory butterflies flutter beneath the watermark — a tender nod to the Fourth King’s enduring commitment to environmental preservation.

It was under His Majesty’s reign that Bhutan’s modern financial system took form. The establishment of the Royal Monetary Authority as the nation’s central bank and the founding of the Bank of Bhutan as its first financial institution were historic milestones that brought stability and structure to the economy. This note, therefore, carries not only His Majesty’s image but also the essence of his economic vision.

Nu. 100 – Celebrating the Fifth Druk Gyalpo

Completing this symbolic series, the Nu. 100 denomination celebrates the reign of His Majesty King Jigme Khesar Namgyel Wangchuck, the Fifth Druk Gyalpo. The obverse showcases His Majesty wearing the Raven Crown, set against a radiant cosmic mandala — an intricate design representing prosperity and protection. The motif includes five sensory offerings to nine dragons, symbolising harmony, abundance, and guardianship over the realm.

The reverse features Tashichho Dzong, Bhutan’s seat of governance, beneath the wings of the Garuda, the nation’s celestial protector. Standing beside the dzong is the State Seal, representing the strength, unity, and integrity of the Bhutanese state.

Shared Symbolism and Design

Across all denominations, the series is united by shared symbolism. Each note features a foil stripe depicting a dragon clutching a jewel in each claw, a motif representing power, prosperity, and the fulfilment of wishes. The watermark designs consistently display the portrait of His Majesty The King, Jigme Khesar Namgyel Wangchuck on one side and the enduring cross-vajra on the other, reinforcing the values of stability, continuity, and protection.

A National Tribute of Gratitude

The unveiling of this new series is a national milestone of deep significance, honouring the 70th Birth Anniversary of His Majesty the Fourth King. Beyond its economic purpose, it stands as a heartfelt act of collective gratitude and devotion.

When these new banknotes enter circulation in January 2026, they will carry with them not only the portraits of Bhutan’s revered monarchs but also the enduring spirit of the nation. From bustling markets to the quiet monasteries nestled in the Himalayas, these notes will serve as daily reminders of Bhutan’s unity, its royal heritage, and the timeless blessings of the Pelden Drukpa, ensuring that the legacy of the Great Fourth King and the Wangchuck Dynasty continues to inspire generations to come.