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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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Market value of shares touch Nu 31B

The total market value of shares in the country has increased from Nu 28B in mid June to Nu 31.29B today, up by over Nu 3B in a period of about two months. Market capitalisation, which is the total worth of shares at prevailing market price, has touched record high. …

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Market value of shares reach Nu 28B

Share trading in the secondary market has increased by about 300 percent in the first five months this year, compared with the same period in 2017.  Market capitalisation has touched a record high of Nu 28B, an increase of about Nu 3B compared with 2017. Market capitalisation is the total …

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RMA allows INR 500 denomination

The Royal Monetary Authority (RMA) has allowed the use of new series of INR 500 and INR 200 in the country effective June 11. This was following a circular issued by the Reserve Bank of India (RBI). However, this is subject to limit of INR 25,000 a person. Earlier the …

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Dungsam Polymers suffer sixth consecutive loss

Sixth year into operation and the Dungsam Polymers Limited (DPL) is yet to come out of the red. However, the company has been able to reduce its loss by a huge margin, from about Nu 20M in 2016 to Nu 6.25M last year. “The performance in the first quarter of …

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Bhutan approves 64 FDIs in 15 years

Bhutan has to date approved 64 foreign direct investment (FDI) projects worth Nu 34 billion since the country allowed foreign investment in 2002. According to the FDI annual report 2017, the country approved five projects in 2016. This means that since then, in a span of about a year and half, 10 FDI projects were approved.

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