NRB relaxes dollar exchange facility

 Relaxes the facility up to $ 500


March 22, 2021


NRB relaxes dollar exchange facility

Nepal Rastra Bank, Central Office in Kathmandu. (File photo/Khabarhub)

KATHMANDU: The Nepal Rastra Bank (NRB) has made it easier to pay for purchasing goods and services from abroad online by relaxing its dollar exchange policy.

Issuing a notice on March 21, the NRB has informed about the slight relaxation on the foreign currency exchange policy.

As per the policy, NRB is going to provide exchange facility of up to $ 500 for purchasing goods and services online.

The NRB has made arrangements to provide such exchange facility through commercial banks and national level development banks. NRB has also stated that the bank can issue prepaid cards of other currencies up to a maximum of $ 500 per annum or its equivalent.

According to the NRB, goods and services up to USD 500 can be purchased with the card issued in this way. Such card can be issued by exchanging Nepali rupee in the bank account of the person, firm, company or organization willing to get prepaid card.

However, NRB has added that the customer identity details of the concerned user should be updated and the concerned user should have a permanent account number to be eligible to get such card.