Tuesday, January 22nd, 2019

 

Nepal’s central bank announces ban of Indian notes above ₹100

Kathmandu: Nepal’s central bank has banned the use of Indian currency notes of ₹2,000, ₹500 and ₹200 denominations, a move that could affect Indian tourists visiting the Himalayan nation where Indian currency is widely used. Nepal Rastra Bank on Sunday issued a circular prohibiting Nepali travellers, banks and financial institutions from holding or carrying and trading Indian bank notes higher than ₹100, the Kathmandu Post reported. The central bank said in its circular letter that Indian currency of 200, 500 and 2,000 denominations cannot be carried and used for trading. Under the new regulation, Nepali citizens cannot carryRead More