Bhutan is one of the worst places to have to send money to. Your options are quite limited, and you won’t get an excellent deal with any of the options available. All the same, sending money to other countries is relatively easy in 2019 so you will have some half-decent options for sending money to Bhutan.
The current exchange rate for the Bhutanese Ngultrum (BTN) is 75.59038 BTN per American Dollar (USD) as of the time this was written. The BTN reached a high of 76.3382 BTN per USD and a low of 74.3956 per USD during the last 90 days. The average exchange rate for the last 90 days was 75.5052 BTN per USD.
The average volatility rate of the BTN against the USD was 0.33% for the last 90 days. This is a moderate volatility rate, although the BTN has demonstrated more volatility during the last 30 days. You can reasonably expect only moderate fluctuations in exchange rates to continue going forward, barring any unforeseen circumstances.
The fastest way to send money to Bhutan is through MoneyGram. With MoneyGram, you can generally expect your money to reach its Bhutanese destination in a matter of minutes. MoneyGram may sometimes take longer than this, but it is one of the faster money transfer services on the market, and it is the fastest one available for Bhutan. It should be noted that using MoneyGram to send money to Bhutan is quite expensive, and it will cost a sizable portion of each of your transfers.
The cheapest way to send money to Bhutan is through XE. XE is an international currency exchange company, but you can use their platform to send money abroad as well. With XE, you can conduct a bank transfer to Bhutan while ensuring lower currency conversion rates.
The easiest way to send money to Bhutan is through Payoneer. With Payoneer, you can switch between different money transfer methods to suit your needs. You have several options for sending money through Payoneer. We recommend you use Payoneer to send money to either the recipient’s debit card, which offers greater convenience and security when compared to other methods. With the debit card method, the recipient can withdraw the money right away upon the transfer’s completion.
Payoneer is also the overall best way to send money to Bhutan. Payoneer is the best option simply because of the usability and breadth of options that they offer. The rates they charge are on the middle to higher end, but the wait times are not too bad. When it comes down to it, you have both more freedom of choice and more security when you use Payoneer to send money to Bhutan.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com