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| From google images |
Rupee
crunch, it came suddenly like a wrathful storm which has already affected and
still affecting our country. Unless effective rescue measures are in place it
will keep on screwing our economy. It has also generated enough limelight from all
across the country except from village folks. The village folks being
illiterates may not be knowing this crisis and what is going on around the
country these days, but they must have felt already the effect of its pinch as,
may not be rice, but for all other necessities they depend on all imported
products from India .In some places like Trashigang has already started hiking
the vegetable prices(Kuensel). Very soon we may hear the same news for other imported
products from India also.
For
I have little knowledge on Economics and Banking I really don’t know what could
have prompted such a dreadful crunch. Might have happened before such crunch,
short of foreign currencies in Bhutan, but I did not remember whether I heard
such crunch in Bhutan. This time I’m hearing for the first time ever. May be
because of too much import and less export or other contributory factors for
such crisis. Whom to point the finger? I really don’t know but one thing I knew
it long time back. Might not have felt at large in the country until recently
but I thought Bhutan has started feeling the crunch long time back. If not, at
least I felt the crunch long time back. Could have been my ignorance failing to
locate the proper source for exchanging Ngultrums for rupees but with all
afford and possible ways still I felt the crunch as early as five years ago,
ever since I started travelling to India for studying.
“Go
to Banks for exchanging Ngultrums for Rupees”, many said whenever I reach to
Phuntsholing for coming to India. But the reality was different .On reaching
the exchange counter in the Bank; cashier would say “Rupee stock is over come
in the morning”. Go to morning same reply most of the time, no rupees. I still
remember sometimes I used to go to Banks again and again only to get the same
reply, no rupees. Some said rupees would be available in the BOD (Bhutan Oil
Distributer) most of time. Unlike in the Bank, they would say “come in the
evening”. Even from BOD most of the time same reply like Banks, no rupees. But
few times I got few hundred at the most one to two thousands only. I must have
gone on the wrong days or I was rather unlucky or the seed of crunch was
already started to swell by then but just able to ripe its fruits fully
recently only. Whatever may be the reason, for sure I felt the crunch. In last
five years, whenever I leave for India though I tried first option to exchange from
Banks in Phuntsholing but I did not get even once also. So I had to resort to
last option, buy rupees of same value paying extra. Sometimes for every hundred
rupees I had to pay Nu. 10 sometimes Nu. 15.
Though
I paid extra even for exchanging the currencies of same value, but considering the current situation that many Bhutanese folks are living with, looking back I don’t remorse
rather I feel i was lucky at least i had alternatives to exchange. If ever students face same fate like me, today go to
Jaigon, forget about paying extra they won’t allow exchange also. Even if they allow also, they would charge almost 30 % of the total exchange
amount as this has been reported already in the Kuensel( Nu.30,000 extra for exchanging
Nu.100,000)
RMA’s
rescue measures are already in force, hope the situation gets back to normal
soon or remain as DPT government's farewell for the country .Lets wait and watch........
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