Nepal relaxes post demonetisation rules on Indian currency, permits Rs 200 and Rs 500 notes
Nepal has allowed Indian and Nepali nationals to carry Indian currency notes of Rs 200 and Rs 500 denominations worth up to Rs 25,000 into or out of the country, provided the notes were issued on or after November 9, 2016.
The Nepal Rastra Bank (NRB), in a notice issued on Thursday, said Indian currency notes of Rs 500 and Rs 1,000 denominations issued before November 9, 2016, remain prohibited in Nepal.
Though the provisions were already notified by NRB through a notice published in the Nepal Gazette on February 11, the central bank on Thursday issued the fresh notice reiterating the regulations and clarifying its implementation.
Clarifying the new rules, NRB spokesperson Guru Prasad Paudel said on Saturday that Nepalese nationals cannot bring Indian currency into Nepal from any country other than India.
Likewise, they cannot carry Indian currency from Nepal to a third country, except India.
Paudel said the new provision would facilitate Indian tourists visiting Nepal and Nepalese nationals engaged in trade and business with India.
