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Bhutan: The Indian Currency Crunch

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Written byRezwan
Posted 13 March 2012 21:09 GMT

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The Indian rupee is accepted as a legal currency in Bhutan along with the ngultrum. Penstar reports that a crisis is brewing in the country as all the banks were ordered to close the accounts held by non-resident Indians to tackle the Indian currency crunch.

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A small portrait of Rezwan
Written byRezwan

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1 comment

  • suren

    Lets accept that business between Bhutanese and Indians are not going to be the same now onwards. Indians will think twice before accepting Ngultrums in the boarder towns. Ngultums is no use to us, it is not accepted anywhere in India, except the boarder towns. To close the Indian business men’s Bank Accounts in Bhutan is gross violation of International Banking norms. This step taken by the Bhutan Central Bank has shaken our confidence in Bhutanese economy.

    14 March 2012, 23:19 pm
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