24/10/2018: 50 Ngultrum commemorative banknote issued
A special commemorative banknote of 50 Ngultrum was issued to celebrate the 50th Birth Anniversary of His Majesty Jigme Khesar Namgyel Wangchuck.
28/10/2013: 1000 Ngultrum banknote issued
A new denomination of 1000 Ngultrum banknote was introduced, reflecting the growing economy and need for larger denomination currency.
09/06/2011: Second series of Ngultrum banknotes issued
The second series of Bhutanese Ngultrum banknotes were issued, featuring improved security features and updated designs representing Bhutan's unique culture.
27/10/2008: Global Financial Crisis
The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.
21/11/2006: Introduction of polymer banknotes
Polymer banknotes were introduced in Bhutan, replacing the older paper banknotes, to enhance durability and security of the currency.
01/01/1998: Establishment of IMF Program
South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.
03/12/1997: Asian Financial Crisis
The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.
04/03/1992: First series of Ngultrum banknotes issued
The first series of Bhutanese Ngultrum banknotes were issued in denominations of 1, 5, 10, 20, 50, and 100 Ngultrum, showcasing Bhutanese culture and landmarks.
27/02/1980: Declaration of Martial Law
Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.
31/12/1975: Establishment of the Royal Monetary Authority of Bhutan
The Royal Monetary Authority of Bhutan was established as the central bank of Bhutan, responsible for managing the Ngultrum currency.
31/05/1974: Introduction of the Bhutanese Ngultrum
The Bhutanese Ngultrum was introduced as the official currency of Bhutan to replace the Indian Rupee.
22/06/1962: Introduction of the Hwan
To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.
27/07/1953: Armistice Agreement
Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.
15/08/1945: Liberation from Japanese Rule
Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.