Foreign Exchange and Banks

The unit of currency in Nepal is the Nepali Rupee. One Nepali Rupee is made up of 100 paise. Nepali rupee notes come in 5, 10, 20, 50, 100, 500, and 1,000 denominations while 1 and 2 Rupees are coins. Foreign visitors other than Indian nationals are required to pay their hotel bills and air tickets in foreign currency. Nepalese currency can be bought at the foreign exchange counters at the airport or from ATMs. The foreign currency exchange counters of different banks are also opened at various places throughout the city. Foreign currencies must be exchanged only through banks or authorized foreign exchange. When exchanging money at the banks or a hotel counter always ensure that you are given a receipt as this is essential for converting your rupees to hard currency on your departure. A maximum of 15% can be converted to hard currency on your departure. Tourists other than Indians are not allowed to import or export the Indian currency. The exchange rates of foreign currencies are determined by the Nepal Rastra Bank and are announced in the press daily. Nepal currency is not applicable in India.

Indian currency of INR 500 and INR 1000 denominations are not allowed to be brought into Nepal and will not be exchanged and will not be accepted for transactions of any kind.

Banks and ATM

Banks are open from 9 am to 3 pm, Monday through Friday. Nepal Bank Ltd. on New Road (Ph: 4221185) is open from 7 am to 7 pm every day of the week. The Kantipath branch (Ph: 4227375) is open from 9 am to 3.30 pm Monday through Friday, from 9 am to 1 pm on Saturday, and closed on Sunday. Rashtriya Banijya Bank’s exchange counter at Bishal Bazaar (Ph: 4223776) is open from 9 am to 3 pm daily except for holidays. Nowadays there are many ATM services in the main city. Every fifty meters or less distance there is an ATM machine available in Thamel. Different banks have various rules for withdrawing cash limits at one time and each day. The Nabil Bank gives up to thirty-five thousand in every transition and a hundred thousand in a day. But this rule will be depending on your bank policy as well.