Nepalis traveling abroad are allowed to exchange $200 via money changers.
Kathmandu: Citizens of Nepal who are traveling abroad can now exchange up to $200 from authorized money changers in the country.
The country’s central bank, Nepal Rastra Bank, issued a circular today stating that only money changers with a license to conduct foreign currency transaction can give US dollars up to $200 per passport to Nepali residents with valid visas for international travel.
The fundamental goal of this new regulation, according to NRB official Gunakar Bhatta, is to make it easier for Nepalis traveling abroad to exchange Nepali rupees for US dollars, even on public holidays.
“An earlier version of this clause, with a different ceiling, was in place, but it was later removed. Because of this, travelers from Nepal were unable to exchange money in case they wanted to travel urgently “said Bhatta. With this, even when banks are closed, they can get up to $200 directly from money changers.
There is a clause that allows Nepali tourists to use exchange services up to $1,500, whereas the limit for migrant workers is $200.
However, only commercial banks were allowed to give Nepali tourists foreign currency.
“Actually, there has been no change to the barrier for travelers from Nepal to exchange foreign cash. Only under the prior ceiling is it possible to use the current capability “Bhatta added.
This essentially means that someone who has previously issued $1,500 from a commercial bank will not be able to obtain an additional $200 from the money changers. Additionally, the new rule does not apply to migrant workers from Nepal.