Indian Tourists Allowed to Bring Currency Equivalent to $5,000 to Nepal

Nepal Rastra Bank (NRB) has made arrangements to allow Indian nationals to bring Indian currency equivalent to US$ 5,000 during their visit to Nepal, a move expected to boost tourism in border areas.

Previously, Indian travelers were permitted to carry only INR 25,000 into Nepal, which local business owners said restricted spending and limited the growth of the tourism sector.

The federal government, through the budget for the current fiscal year announced on May 29, had introduced a provision allowing travelers entering Nepal by air or land to bring foreign currency or traveler’s cheques equivalent to US$ 5,000 for exchange within the country. Following this announcement, the central bank issued a public notice on August 26, permitting both Nepali and foreign citizens to carry up to US$ 5,000 in cash without a customs declaration.

“This decision will provide much-needed relief to tourism entrepreneurs as Indian tourists form a significant portion of our customer base,” said Hari Pant, president of the Hotel and Tourism Entrepreneurs Association in Birgunj.

Birgunj, a major entry point for Indian visitors, has more than 85 hotels, including several four-star establishments. However, local hoteliers say tourists often cut short their stay due to cash limitations. They believe the new policy will encourage longer stays and higher spending. -- RSS