Short on cash? Just trade in Bhutanese currency and CHILL!
Well that is not my opinion to go around demonetization. But this is precisely what an Assam village is doing to overcome cash crunch, because waiting in long queues outside banks and ATMs is too mainstream.
The concerned village is Hatisor village in western Assam. Here people often complained about the remoteness of their village. However little did they know, one day geography would come to their rescue. Their proximity to the Bhutan border meant Bhutanese currency is easily accepted as retailers and grocery shop owners get their stocks from Bhutan.
And to overcome the cash crunch, people in this border village are using Bhutanese currency, whose value has jumped as much as 25 per cent to match Indian currency. Officially exchange rates state that the Indian Rs 500 should get you 500 ngultrum, but because of the shortage of Indian currency it’s value is lower. Presently Rs 500 gets you 400 ngultrum (Bhutanese currency).
The village in the border area of Dadguri has challenges in road connectivity and the nearest bank branch is 50 km away. A mobile van of the State Bank of India comes here thrice a week but for deposit collections. But now SBI has asked the mobile vans to dispense cash as well.
The mobile van is expected to give out cash next week. Until then, people in this border village are using Bhutanese currency to buy their daily needs.