Nu 1000 denomination Commemorative Banknote to celebrate the Birth of The Gyalsey
The Royal Monetary Authority of Bhutan released the commemorative Banknotes of Nu.1000 denomination to celebrate the birth of His Royal Highness The Gyalsey , Jigme Namgyel Wangchuck on 21st of September , 2016.
The bank note bears the commemorative message “Celebrating the Birth of The Gyalsey, February 5, 2016” on the obverse and the message “Birth of the Prince of Bhutan” on the reverse side. The note bears the prefix “W” to mark the reign of the Wangchuck Dynasty. The note measures 175mm x 60 mm with the security thread enhanced to 4.0mm wide rolling star window thread with clear text. The note bears the signature of the Governor, Dasho Penjor. The color scheme as all other features of the commemo- rative Banknote are the same as the series 2008 Nu.1000 notes. The Central bank has printed 3,420,000 pieces of the commemorative Banknote through Giesecke & Devrient, a German security company based in Germany.
The general public can acquire the commemorative Banknote through the exchange for equivalent at the RMA Exchange counters from 22nd of September 2016, until the stock last. The Commemorative Banknote will also be held as legal tender along with the other currency notes and therefore will be put into circulation and available through the Banks.
The Commemorative Bank note was launched by Lyonchhen Tshering Tobgay at the Royal Banquet Hall.
Speaking at the launch Lyonchhen said that the new Nu. 1000 Banknote represents the “present and the future”. Present to celebrate state of our economy and future to continue to strengthen our economy represented by our precious His Royal Highness The Gyalsey.
The central bank also launched a scheme to provide foreign currency account facility for nonresident Bhutanese (NRB), i.e. Bhutanese who live, work or study overseas. The scheme is being introduced in recognition of the significant role that inward foreign currency remittances can play in boosting the country’s foreign exchange reserves and in promoting savings.
The facility is being made available exclusively to NRBs to enable them to remit their earnings and savings to their personal foreign currency accounts or to their family members in Bhutan. The RMA has de- veloped a safe and secure web-based system called RemitBhutan (www.remitbhutan.bt) to facilitate NRBs to conveniently and safely apply for and open non-face-to-face foreign currency account online. The system also provides comprehensive information about sending remittances to the country while safeguarding the information security and privacy of the applicants.
Under this scheme, NRBs can open non-resident Bhutanese foreign currency account (NRBFC) and non-resident Bhutanese Ngultrum Account (NRBNC). Individuals can directly remit into their NRBFC account or convert foreign currency earnings into Ngultrum in the NRBNC account. The scheme also has various attractive incentives.
The central bank closed its books of account for the financial year 20152016 and declared a net surplus to be transferred to the Royal Government of Bhutan.
The total operating income of the RMA for the financial year 2015-2016 was Nu. 1,558.92 million. Following adjustments of Nu. 349.76 million as cost of monetary policy and after deducting operating expenses, the RMA has generated a net surplus of Nu. 874 million, which is the highest, transferred to the Royal Government till date. The net surplus of Nu. 874 million for financial year 2015-2016 is an increase of 11% from Nu.788.68 million in 2014-2015.
The cheque for the net surplus was officially submitted by the RMA Governor to the Minister of Finance in the presence of Lyonchhen Tshering Tobgay on 21st September 2016.