Indian currency in Nepal: India-Nepal travel and trade will be easy, Nepal government has taken a big decision regarding Indian currency

If you are planning to travel to Nepal in the coming days or travel across the border for business purposes, there is a very good news for you. The Government of Nepal has officially allowed Indian and Nepalese citizens to carry and carry new Indian currency notes of Rs 200 and Rs 500 into Nepal. It is hoped that this decision will give a big boost to tourism and trade between the two countries.
A limit of Rs 25,000 was fixedAccording to a new notice issued by Nepal’s central bank, i.e. ‘Nepal Rashtra Bank’ (NRB), any Indian or Nepali citizen can bring Indian currency up to a maximum of Rs 25,000 in cash to or from Nepal. However, this facility will be applicable only on the new Rs 200 and Rs 500 notes issued after demonetisation in India on 9 November 2016. The bank has clarified that the old pre-demonetisation Indian Rs 500 and Rs 1000 notes will continue to be banned in Nepal. Bringing or using these old notes can lead to strict legal action.
Currency can be brought only from IndiaNepal Rashtra Bank spokesperson Guru Prasad Paudel further clarified this rule and said that tourists can enter Nepal with this currency only from India. If a citizen is coming to Nepal from Dubai, Bangkok or any other third country, he cannot bring Indian Rupees with him. Similarly, even from Nepal, Indian currency can only be taken to India and cannot be transferred to any other country. This rule has been implemented under the existing Foreign Exchange Act.
Tourism and border trade will benefit greatlyIndia and Nepal have a centuries-old roti-beti relationship and both countries have open borders. Every year lakhs of Indian tourists visit Nepal to visit Pashupatinath and enjoy the beauty of the Himalayas. Apart from this, millions of Nepalese citizens reside in India for work, study or business purposes.
Until now, due to strict rules on holding high-value Indian notes, tourists had to suffer a lot there and often had to exchange currency. This new move by the Government of Nepal will make financial transactions extremely easy for tourists and small businessmen, giving a big boost to Nepal’s tourism sector.