KATHMANDU: The Nepal Rastra Bank (NRB) has clarified that both Nepali and foreign nationals may bring foreign currency equivalent to up to $5,000 into Nepal without making a customs declaration.
In a public notice issued on Thursday, the NRB’s Foreign Exchange Management Department said travelers may carry up to $5,000 in US currency or Indian currency equivalent to $5,000 without declaring it at customs.
However, anyone carrying foreign currency exceeding the equivalent of $5,000 must declare the amount to customs upon entry into Nepal, the central bank said.
The NRB also clarified that Indian Rs 200 and Rs 500 banknotes issued after November 9, 2016, may be brought into, taken out of, or exchanged in Nepal by Nepali and Indian citizens, subject to the existing limit of Indian Rs 25,000 per person.
The central bank further stated that Nepali citizens are not permitted to carry Indian currency to countries other than India or bring Indian currency into Nepal from third countries.
The notice also reiterated that the longstanding prohibition on transactions involving Indian Rs 500 and Rs 1,000 banknotes issued before November 9, 2016, remains in force.
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