Here are the three commemorative notes of 100, 500 and 1000 ngultrum all released on 02.01.2026. These three notes are all printed in polymer substrates and were issued to celebrate the 70th birthday of the formal King, Jigme Singye Wangchuck, who was the King of Bhutan from 1972 to 2006. King Jigme Singye Wangchuck was born on 11th November 1955, and abdicated in 2006 in favour of his son, King Jigme Khesar Namgyel Wangchuck.
Like many Asian countries, many central banks have issued polymer banknotes due to it's durability and being able to be recycled once they are no longer deemed fit for circulation. However, most of the countries issue polymer notes with either the lower denominations, or those that are the most circulated denominations. In the Bhutan case, the central bank has issued them with the three highest denominations. Bhutan is the 19th nation in the Asian region to issue polymer banknotes.
The design for the notes depict a portrait of a Bhutanese monarch (past or present) and on the back with the image of a Dzong or a fortress monastery that serves as both the religious and administrative center for a district.
These notes are printed by De La Rue on Safeguard polymer materials.
Circular transparent window with the image of the current monarch, King Jigme Khesar Namgyel Wangchuck.
I am not sure who the signature belongs to that is printed on these three polymer notes. These three notes were issued in early 2026 and all notes are dated 2025. The previous bank governor was Dasho Penjore and he was replaced by Dasho Yangchen Tshogye (she/her) on 01.12.2025 (appointed on 25.11.2025). I can see the signature on these polymer notes are not the same as those previously signed by Dasho Penjore, however, I cannot be sure these polymer notes signature belong to Dasho Yangchen Tshogye, given the time she was appointed and the release of these notes were just over a month. Most printing of banknotes is well planned in advance. I can see previous notes were signed with western style (English alphabet), whilst these three polymer notes are signed in Bhutanese (I think). The signature on these notes could belong to the previous governor, Dasho Penjore as he may have two signatures. The appointment of the governor is for 5 years. Any future issues should confirm this.
****This is one expensive set to purchase, just because it is printed in polymer substrate material. This is the price to pay if you want to be the first to have them. Such strategy ****
One Hundred Ngultrum
Front - The portrait of King Jigme Khesar Namgyel Wangchuck, who was born in 1980. He is the eldest son of the former King, Jigme Singye Wangchuck. He acceded to the Bhutanese Golden throne following the abdication of his father on 09.12.2006.
Back - An image of the Tashichho Dzong situated at the northern edge of Thimphu. The Tashichho Dzong is a Buddhist monastery and is also traditionally the office of Bhutan's civil government.
Five Hundred Ngultrum
Front - The portrait of King Jigme Singye Wangchuck who was born on 11 November 1955. He was the king of Bhutan from 1972 to 2006 when he abdicated in favour of his eldest son from his third wife. He is married with four wives and with 10 children.
Back - The image of Punakha Dzong, also known as Pungthang Dewa Chhenbi Phodrang. In translation, it means 'the palace of great happiness or bliss'. The Punakha Dzong is situated between the two rivers of Pho Chhu and Mo Chhu in the Punakha valley. It is believed that this palace was built around 1638. This is also the palace where the current King and Queen Jetsun Pema held their Royal wedding in 2011.
One Thousand Ngultrum
Front - The portrait of King Gongsar Ugyen Wangchuck (b.1862-1926). He was the first king of Bhutan from 1907 to until his death in 1926. King Gongsar Ugyen Wangchuck spent his early life uniting various tribes. Following the death of his father Jigme Namgyal in 1881, he took over his father's position and continued working his way to win the hearts and sorts of the people. In 1886 at the young age of 24, he successfully achieved victory against his enemies and became the de facto ruler of Bhutan. He was crowned the King of Bhutan in 1907.
Back - An image of Trongsa Dzong. This is the largest dzong fortress in Bhutan and is located in Trongsa in the center of the country. It is believed that this dzong was built in 1543. Today, this dzong functions as a Bhutanese government administrative office.
