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Rupee reserve at INR 20B

The country’s international reserve position as of August this year was at USD 1.1B, of which the rupee reserve forms Rs 20.5B. Convertible currency reserve was at USD 817M. The rupee reserve in the beginning of the year was Rs 23B, the highest in 2018. In the following month of February, it fell to Rs 17B and dipped to Rs 11B in April, which gradually picked up. This is according to the Royal Monetary Authority’s (RMA) recent monthly statistical bulletin.

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USD hits record high at Nu 73

Indian rupee (INR) has been sliding against the USD in recent months and Bhutanese ngultrum, because it is pegged to INR, is under pressure. Losing 12 percent this year, INR is labelled by the Bloomberg as Asia’s worst performing currency.

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Forex counters at airport accrue USD 2M in a year 

The Royal Monetary Authority (RMA) has collected USD one million in 369 days after it had set up a foreign exchange counter in Paro International Airport. This is in addition to about USD 0.9M the Bank of Bhutan (BoB) has collected at its foreign exchange counter in about seven months. …

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Four companies raised Nu 2.77B from commercial papers

Since the introduction of commercial papers in 2017, four incorporated companies have raised Nu 2.77B to meet its short-term financing needs. Commercial paper is a short-term debt instrument issued by a corporation, typically for the financing of accounts payable and inventories, and meeting short-term liabilities. It is usually issued at a discount rate, …

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87,901 taxpayers filed their taxes in 2017

Some 87,901 individuals and businesses filed their taxes in the income year 2017, according to the performance indicator report of the revenue and customs department. This figure is as per the records obtained from revenue and administration management information system (RAMIS) in August this year. The record also found that …

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Record low inflation in August

The price of goods and services as of August this year has increased by 2 percent compared with the prices of August last year, according to the consumer price index of the National Statistical Bureau (NSB) This is the lowest year-on-year inflation witnessed until August this year, taking the eight-month …

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Domestic credit at 107.8B

Financial institutions in the country lent Nu 107.8B in the domestic market as of June this year. The economy saw domestic credit swell by Nu 12B in a span of 12 months. In June last year, the cumulative figure of domestic credit stood at Nu 95B.

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