Bhutan: Thimphu is the capital and the ngultrum is pegged to the Indian rupee
Background
Thimphu is the capital of Bhutan.
Bhutan's currency is the Bhutanese ngultrum (BTN).
The World Bank records that the ngultrum is pegged to the Indian rupee at par, a peg introduced in 1974.
Monetary policy is anchored by this peg, and the IMF letter hosted by ADB refers to the Royal Monetary Authority's role in aligning money market conditions with the monetary policy stance.
With 85 percent of Bhutan's imports coming from India and the exchange rate pegged to the rupee, the World Bank says Bhutan's inflation rate is closely linked to that of India, albeit with a time lag.
In plain words
RMA Royal Monetary Authority — The monetary authority named in the IMF letter hosted by ADB.
Peg Fixed exchange rate link — A currency is tied at a fixed rate to another currency, here the Indian rupee.