Bhutan switches to hybrid notes
Interesting news from the small kingdom Bhutan: the low denominations of 1 and 10 ngultrum will no longer be printed by De la Rue on paper but by printer Giesecke and Devrient on a paper/polymer substrate made by Louisenthal. Hybrid banknotes have a cotton core that gives the substrate the security benefits of traditional banknotes. This is surrounded by a polyester laminate that increases the durability of the banknote even under extreme climatic conditions. Bhutan's 1 and 10 ngultrum banknotes in particular are subjected to high levels of wear and, up to now, had to be regularly replaced.
Statistically, Bhutan is one of the poorest nations on Earth, although its average income per capita is higher than in neighboring India. Jigme Singye Wangchuk, King of Bhutan since 2006 and pictured on the front of the 10 ngultrum banknote, has coined the term "gross national happiness" to describe the cultural objective and he formulated this as an important objective of Bhutan's economic policy. In line with this, Buddhist symbols of happiness also adorn the new banknotes. Alongside Ecuador, Bhutan is one of the few countries that has not set out a growth-oriented economic model in its constitution.
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