OVERVIEW OF FOREIGN EXCHANGE CONTROL RESERVE MANAGEMENT FOREIGN
- Slides: 7
OVERVIEW OF FOREIGN EXCHANGE CONTROL & RESERVE MANAGEMENT FOREIGN EXCHANGE & RESERVE MANAGEMENT DIVISION
Reserve Management � Indian Currency (INR) � Convertible Currency (CC) ØTo meet external obligation ØBack up domestic currency ØEmergency time
Exchange Control Export and Import of Currency Bhutanese Currency Ø Maximum up to Nu. 5000. 00 in and out of Bhutan. Indian Currency Ø Freely carry any amount below denomination 100 from Bhutan to Indian & Nepal only and vice versa. ( 500 and above Illegal) Foreign Currency Ø Ø Bring into Bhutan any amount. More than USD 10, 000. 00 declare at custom entry point. Carrying more than USD 5000. 00 & above should declare at the custom exit point.
-cont RMA’s Approval: � Government Remittance (fees, official travel, study etc. ) � Private ◦ ◦ Remittance Private Travel ( limit up USD 3000 in Cash ) Medical Travel (Release based on Medical Invoice) Study Abroad (letter from University abroad) Business Travel ( Based on Itinerary ) � Foreign Currency Account o Foreign Direct Investment ( FDI) o Foreign Exchange Earners ( Exporters) o Government Projects.
-cont Without RMA’s Approval: � Import of goods : approval from Dept. of Trade, Mo. EA. � USD 200 & below directly from Commercial banks (with documentary evidence) �Membership /subscription fees �Shipping/transportation costs �Studies
-Cont Exchange Facility � Convertible Currency: o Commercial banks (both buy & sell) o Authorized Money Changers (only buy ) � Indian Currency (INR) o Commercial Banks & RMA (withdrawal over the counter up to maximum 40, 000 person)
Tashi Delek
