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Bhutan Times reports:

Despite the initiative of the central bank, the Royal Monetary Authority, to make Indian Currency (IC) available to everyone, it does not seem to work and people are still complaining. The central bank has imposed a ceiling on withdrawal from the Bank of Bhutan at Nu 40,000 by an individual in one transaction.

“It is arduous to get IC from the bank. By 11 am, the bank, almost always, runs short of it,” said Tshering Rabten, a Phuentsholing businessman, adding they have to make repeated requests to get Nu 40,000. “If we go in the morning, we are told to come in the afternoon and in the afternoon we are told to come the next morning.”

Frustrated, people are blaming the bank officials for not performing their duties properly. Every day, within 11 a.m., the Bank of Bhutan runs out of Indian currency. According to people, getting Indian currency is not difficult if one has some connections with the bank’s employees. However, Sonam Tshering, general manager, Bank of Bhutan, denied the claim of the scarcity of Indian currency and said that the bank was not hoarding Indian currency. A cashier of the Bank of Bhutan said that every day, they receive Indian currency worth Nu 0.7 million but upon the order of their superiors they have to give away Rs 0.1 to 0.2 million to one customer which creates shortage of Indian currency.

Looking at the scarcity of Indian currency, money minting has become a booming business in border towns. Some people in the Indian border have started minting money for a fee. To convert Nu 1000, people have to pay Nu 7 extra. The government of Bhutan should take necessary steps to stop this and make sure that people do not adopt any illegal means to acquire Indian currency. 

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Bhutan Times