New rule implemented as part of monetary policy for FY 2082/83; foreign exchange must now be deposited into the individual’s account
Nepal Rastra Bank (NRB) has made it mandatory to have a bank account to exchange foreign currency. The central bank implemented this provision through a circular issued on Thursday, in line with the monetary policy of the current fiscal year 2082/83.
New Provision for Currency Exchange
Under the new rule, any foreign currency exchange — whether for obtaining foreign currency against a passport or for formal travel purposes — must now be deposited into a convertible foreign currency account in the name of the individual. If such an account does not already exist, a new account must be opened.
Foreign Exchange Limit for International Travel
Nepali citizens traveling to countries other than India can now exchange up to a maximum of USD 3,000 (or equivalent in other currencies) per trip by presenting their passport.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
