Central bank launches notes exchange facility

The Royal Monetary Authority (RMA) launched the facility for exchange of mutilated and burnt ngultrum notes with fresh ones in Phuentshogling today.

The service, aimed to help people in southern Dzongkhags, will now be available from RMA’s regional office in Phuentshogling.

According to the RMA’s Governor, Dasho Penjore, people prefer fresh notes during religious ceremonies and while performing rituals. He therefore said the services will greatly benefit the people while helping preserve the currencies.

“We do not want currencies to remain idle and unusable in the market,” said Dasho Penjore. “Burnt and mutilated notes may therefore hinder the economic growth. So we are providing the facility to exchange it which will help the people as well as the central bank.”

The Governor added that all the currencies issued are recorded and that the growth in economy can be derived from the use of currencies. “We therefore expect people to use currencies and contribute to the economy.”

People can also purchase various gold and silver commemorative coins to celebrate His Majesty The fourth Druk Gyalpo’s sixtieth birthday and The Royal Wedding from the counter.

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