Nepal Rastra bank bans use of Indian currency notes

  • Nepal’s central bank ‘Nepal Rastra Bank’ has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations.
  • Under the new regulation issued on December 20, 2019, Nepali citizens cannot carry these denominations to countries other than India. 
  • Nepalis are also not allowed to bring such notes from other countries.
  • Indian notes of 100 or below, however, are allowed for trading and conversion.
  • On December 13, the Nepal Cabinet had decided to publish the notification in the Nepal Gazette not to allow people to carry Indian currency notes above 100 denominations in Nepal.

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