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100 Ngultrum

Issuer Royal Monetary Authority of Bhutan
Year 2025
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Composition Polymer
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Reverse description Central vignette of Tashichho Dzong rendered in detailed intaglio against a warm multicolour guilloche underprint; the national state seal appears to the left, with a Garuda motif above the dzong; a large circular void at right serves as a transparent polymer window element, with the denomination numeral '100' in large letterpress at upper corners.
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Protection type Watermark, Polymer window
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Comments

Bhutan's shift to polymer for the 100 Ngultrum places it among a small group of Himalayan and South Asian issuers that have made the transition — Nepal has experimented with polymer commemoratives, but a circulating polymer 100-unit note from Bhutan is a notable step for the Royal Monetary Authority. De La Rue's polymer substrate is produced under the Safeguard brand, distinct from the Guardian polymer used by Note Printing Australia, and the two are not interchangeable in terms of security architecture.

TBB#225 is among the earliest catalog references for this issue, suggesting it may represent a new series rather than a replacement within an existing one.

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