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| Country Guide > Indian Subcontinent > Nepal |
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Money Currency Nepalese Rupee (NRs) = 100 paisa. Notes are in denominations of NRs1000, 500, 250, 100, 50, 25, 20, 10, 5, 2 and 1. Coins are in denominations of NRs5, 2 and 1, and 50, 25, 10 and 5 paisa. Currency exchange It is illegal to exchange currency with persons other than authorised dealers in foreign exchange (banks, hotels and licensed money changers). Visitors should obtain Foreign Exchange Encashment Receipts when changing currency and keep them, as these will help in many transactions, including getting visa extensions and trekking permits. Note Visitors should bear in mind that foreign visitors other than Indian nationals are required to pay their airline tickets, trekking permits and hotel bills in foreign currency. Credit & debit cards American Express is widely accepted, with MasterCard and Visa in tourist shops, hotels, restaurants and agencies. Check with your credit or debit card company for details of merchant acceptability and other services which may be available. Travellers cheques Accepted at banks and major hotels. If trekking, it is important to bear in mind that cash is necessary. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars or Pounds Sterling. Currency restrictions Import of local and Indian currency is prohibited, except for nationals of Nepal and India. Foreign currency is unlimited but must be declared. Export of local and foreign currency is limited to the amounts declared on arrival. Only 10 per cent of the amount exchanged into local currency will be reconverted into foreign currency on departure and all exchange receipts must be retained. Exchange rate indicators The following figures are included as a guide to the movements of the Nepalese Rupee against Sterling and the US Dollar:
Banking hours Banks in the Kathmandu valley are open Mon-Fri 0900-1430. In other areas, opening hours are usually Sun-Thurs 1000-1430 and Fri 1000-1200. Licensed money changers are open 12 hours a day. |