Nepal Indian currency rules now allow ₹200 and ₹500 notes up to ₹25,000 per person, easing travel and trade while retaining existing foreign currency limits.
Nepal has eased the rules governing the movement of Indian currency across the border for Indian and Nepalese nationals, allowing Indian currency notes of Rs 200 and Rs 500 denominations up to a value of Rs 25,000, issued on or after November 9, 2016.
According to a notice issued by Nepal Rastra Bank (NRB), the Indian currency notes issued before November 9, 2016, in denominations of Rs 500 and Rs 1000 remain prohibited in Nepal.
The NRB notice further added that an Indian and a Nepalese national can carry, bring into, or take out of Nepal the Indian currency notes of Rs 200 and Rs 500 issued after November 9, 2016, up to a limit of Rs 25,000 per person, in accordance with prevailing regulations, PTI reported.
What changes for Indian travellers?
Earlier, Nepal restricted the entry and usage of Indian currency notes above the denominations of Rs 100 while the cap on the limit of Rs 25,000 remained unchanged. It effectively meant that tourists were restricted to carrying notes of Rs 100 and below.
The provisions had already been notified by the NRB through a Nepal Gazette on February 11, but the bank reissued the notice in order to reiterate the rules and clarify any issues related to their implementation.
Restrictions on carrying Indian currency remain
Highlighting other restrictions in the rules, NRB spokesperson Guru Prasad Paudel on Saturday said that Nepali citizens cannot bring Indian currency into the country from any other nation than India. Likewise, a Nepalese national cannot carry Indian currency from Nepal to a third country, except India, PTI reported.
Move expected to benefit tourists and traders
Paudel added that the recent changes in provisions would aid Indian tourists visiting Nepal and Nepalese citizens who are engaged in trade and business with New Delhi.
Other than Indian currency, Nepalese nationals and foreign visitors can bring up to $5,000 in other foreign currencies into Nepal.
