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2 Ngultrum
| Issuer | Royal Monetary Authority of Bhutan |
|---|---|
| Year | 1986-1990 |
| Type | Standard circulation banknote |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Vignette of Simtokha Dzong rendered in intaglio, set atop a green hillside at centre, flanked on either side by winged mythological guardian figures in dark ink against a multicolour underprint of mauve and green. Denomination numeral '2' appears in guilloche cartouches at lower left and right, with the value inscription in both English and Dzongkha script along the lower margin. |
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| Protection type | Log in to see details |
| Protection description | the royal emblem visible in the paper when held to light. |
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| Comments |
Bhutan's Royal Monetary Authority was established only in 1982, and this note belongs to the institution's earliest independently managed series — the country had relied on the Reserve Bank of India for currency management well into the 1970s. Thomas De La Rue's involvement was predictable for a small newly sovereign issuer seeking international credibility, but the 2 Ngultrum denomination itself was an oddity even at issue, occupying an awkward position in daily commerce in a country where barter remained common in rural areas through much of the decade.
The watermark is the sole security feature — no security thread, no fluorescent printing. Bhutan's low counterfeiting risk at the time made elaborate protection economically unjustifiable.