The state is new, UNC. The note is a 1 ngultrum (Nu. 1) issued by the Royal Monetary Authority of Bhutan (RMA). Key information Issuer: Royal Monetary Authority of Bhutan. Currency: Ngultrum (BTN), which was introduced in 1974 and is tied to the Indian rupee in a ratio of 1:1. Indian rupees are also legal tender in Bhutan. Banknotes of this type (Pick # 12) were issued from about 1986 to 1990. Design: The obverse (front side): The royal emblem is depicted between two dragon-prints facing each other (Druk) on a multi-colored background. The print, or "Thunder Dragon", is the national symbol of Bhutan. Reverse: The center features the Simtokha Dzong Palace, a small fortress built in 1629 that united Bhutan. Material: Banknotes of this period are made of 100% cotton paper. Later editions of 2013 were made of hybrid material (cotton with polymer) to increase durability.
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