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RMA Bhutan T-Bills System : Royal Monetary Authority

Organisation : Royal Monetary Authority (RMA)
Facility Name : Bhutan T-Bills System
Country : Bhutan
Website :

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What is RMA Bhutan T-Bills System?

The RMA Bhutan T-Bills System is a platform facilitated by the Royal Monetary Authority of Bhutan (RMA) for auctioning Bhutanese Treasury Bills. It allows eligible participants to submit bids for Treasury Bills offered by the Bhutanese government. The system utilizes a “Multi-price Method” for auctioning the T-Bills.

Related / Similar Facility : Bhutan Online Asset Declaration System

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How To Register at RMA Bhutan T-Bills System?

To Register at RMA Bhutan T-Bills System, Follow the below steps

Step-1 : Go to the link
Step-2 : Select User Type
Step-3 : Enter Password
Step-4 : Agree Terms and Conditions
Step-5 : Click On Register Button


How To Login To RMA Bhutan T-Bills System?

Follow the below steps to login to RMA Bhutan T-Bills System

Step-1 : Go to the link
Step-2 : Enter the User Code
Step-3 : Enter the Password and
Step-4 : Click On Sign In Button


FAQ On Royal Monetary Authority (RMA)

Frequently Asked Questions FAQ On Royal Monetary Authority (RMA)

Who supervises the RMA?
In terms of its Act, all powers of the RMA are vested in its Board of Directors which is responsible for the policy and general administration. While all matters of policy are deliberated and subject to approval by the Board, certain administrative powers are delegated to the Governor and other officers. The Governor is responsible to the Board for the day-to-day administration of the Authority.

How does the RMA make profits and what are they used for?
Although the RMA is not a commercial organization driven by the profit motive, it does generate substantial surpluses from its operations. The bulk of the profits are generated from investments in financial markets abroad as part of its foreign reserve management strategy. Secondly, it receives interest income on loans and advances to the government and the financial institutions.

Some income is also generated in the form of royalties on legal tender coins that it has authorized agents abroad to mint and sell on its behalf. After setting aside certain amounts in accordance with the provisions of the Act, the entire balance of the annual surplus is transferred to the Royal Government.

How are the foreign currency reserves managed?
The Act authorizes the RMA to maintain the external reserves in the form of gold, foreign exchange in the form of currency or bank balances abroad, bills of exchange and promissory notes denominated in foreign currency and payable abroad, treasury bills issued by foreign governments and international financial institutions, and securities issued or guaranteed by foreign governments and international financial institutions.

Accordingly, most of the external reserves are invested in deposits with foreign central banks and well known commercial banks, as well as in treasury bills issued by foreign governments. A part of the reserves has been placed with an internationally renowned asset management company, which actively manages the funds through investments in fixed income instruments permitted under the Act. A negligible amount is held in the form of gold.

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