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Lead Story

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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Cabinet takes office today

In keeping with the tradition and as provided in the Constitution, His Majesty The King will grant Dakyen to Prime Minister Dr Lotay Tshering, the ministers, and the Speaker to formalise the formation of government today. This completes the process to the formation of the government after the election of the representatives the National Assembly on October 18.

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Dasho Neten Zangmo resigns as BKP president

Taking moral responsibility and accountability, Dasho Neten Zangmo has stepped down as the president of Bhutan Kuen-Nyam Party (BKP) following the party’s failure to make it to the general election. She tendered her resignation to the party on September 16, the day after the primary round. However, the party shared her resignation letter on its Facebook page only yesterday.

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Meet the new Cabinet

The cabinet members

The first order of business for the new government would be to get everyone on board, incorporate the pledges of all political parties and work on a common vision for the country, the vision 2045. Prime Minister elect Dr Lotay Tshering said the party has been asking for togetherness and while it has campaigned for change, the government would not do anything and everything just for the sake of change.

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