Central bank hand over surplus fund
Lyonchhen Tshering Tobgay and Lyonpo Namgay Dorji, Ministry of Finance met with the board, management and staff of the Royal Monetary Authority (RMA) of Bhutan last Monday. The Central Bank, as per its Act, handed over the 201415 annual surpluses to RGoB amounting to Nu. 788 million. Speaking to the staff, Lyonchhen said that the success of their organization was an outcome of their hard work, services rendered and dedication accorded to their profession. His Excellency also talked about the social and economic progress achieved over the last two years as a combined result of decrease in overall debt, increase in foreign reserves and the Central Bank’s effective monetary policies. The Prime Minister assured RGoB’s full support to the Central Bank and reiterated that ‘working together’ would only deliver and steer the country to greater heights in the times to come. The Central Bank also announced that it would be reopening INR (Indian Rupee) counters in Thimphu and Phuentsholing which would complement the existing counter services offered by the banks in order to make INR available for all legitimate payments in India. The attempt is in reemphasizing the significance of the Ngultrum and INR parity as a national policy and in addressing the Ngultrum and INR imbalances at the retail transactions.