Nepal Ends 10-Year Ban on High-Value Indian Currency Notes, Boosts Tourism and Trade
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Nepal has lifted a decade-long ban on carrying high-denomination Indian currency, allowing residents and tourists to bring in up to ₹25,000 worth of ₹200 and ₹500 notes. The change, announced after a cabinet meeting on Monday, follows amendments to India's Foreign Exchange Management Regulations. The revised provision allows Nepali and Indian citizens to bring in higher denomination bank notes from India or carry them from Nepal to India, facilitating tourism and business travel between the two countries. According to Nepal Rastra Bank spokesperson Guru Prasad Paudel, the decision aims to ease difficulties faced by migrant workers, tourists, and businesspeople who often travel to India. The previous ban had put Nepali migrant workers at risk of theft and pickpocketing, as they were forced to carry low-denomination notes. Many have also been arrested and fined for carrying high-value notes. The restrictions had a significant impact on Nepal's tourism sector, particularly in border towns, where Indian tourists were unable to spend freely due to currency limitations. With the ban lifted, tourism entrepreneurs hope to see an increase in Indian visitors and revenue for their businesses. The move is seen as a positive response to Nepal's long-standing request, and is expected to have a positive impact on trade and tourism between the two countries.
