According to the most recent report from the Royal Monetary Authority, Bhutan’s international payment systems displayed a range of trends in the fourth quarter of 2024. At 73,720, the total number of transactions made using international cards, SWIFT, and IPG increased by 61.9%. At Nu 36.98b, the total transaction value rose by 76.38%. Inflows into SWIFT have increased significantly. Bhutan recorded 9,160 transactions totaling Nu 8.46b in Q4 2023. Inflows increased by 116% to 10,120 transactions by Q4 2024. In Q4 2024, there were 5,500 outgoing transactions, down from 7,080 in Q4 2023, while the total value rose 46% to Nu 17.28 billion. The USD continued to be the most popular currency, with the euro and AUD following. At Nu 0.03b, the outflow in Canadian dollars was the smallest.
Two financial institutions run the nation’s IPG, which enables transactions in both US dollars and Indian rupees. Transactions had been increasing until 2023, but they started to decline in Q4 2024. The number of transactions decreased by 15.12% from 3,140 in Q4 2023 to 2,670 in Q4 2024. In Q4 2024, 22,570 international credit card transactions totaled Nu 219.94 million. In comparison to Q4 2023, this represents a 40.03 percent increase in transaction volume and a 109.44 percent increase in transaction value. Significant increases were seen in international debit card transactions, with volume rising 76.14% and transaction value rising 8.10% from Q4 2023. Nevertheless, compared to the prior quarter, the volume and value of INR debit card transactions decreased.