Bhutan warns its citizens of holding Indian Rupees..

A strong notice from Royal Monetary Authority of Bhutan (HT: TCA Sharad Raghavan’s piece):

the Royal Monetary Authority of Bhutan would like to inform the general public of Bhutan that with effect from June 11, 2018, individual concern may bring in or take out of Bhutan, New Series of INR currency notes of denomination Rs.500/-, subject to the limit of INR 25,000/- per person until further notice.

Further, the RMA would like to inform the general public to deposit any INR earnings/receipts in their accounts maintained with any commercial banks and refrain from holding the INR currency notes in cash. The RMA shall not be liable or responsible in case of any policy changes by the RBI, including demonetization of INR currency notes in the future.

The RMA also cautions the general public of counterfeit notes of INR 500 denomination and requests all individuals to be vigilant and careful while accepting this denomination.

Well, well, well. What can one say to this?

BTW, the bold text is by the RMA itself.

 

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One Response to “Bhutan warns its citizens of holding Indian Rupees..”

  1. Links for 22nd June 2018 – economics for everybody Says:

    […] Mostly Economics is compulsory reading, and the blog alerts us to trouble with one of our neighbours […]

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