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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.
Exchange rate indicators :
The following figures are
included as a guide to the movements of the Nepalese Rupee against
Sterling and the US Dollar :
|
Date |
Aug ’02 |
Nov ’02 |
Feb ’03 |
May ’03 |
|
£1.00= |
117.16 |
120.98 |
120.74 |
122.55 |
|
$1.00= |
77.04 |
76.50 |
75.83 |
74.83 |
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 ten per
cent of the amount exchanged into local currency will be reconverted
into foreign currency on departure and all exchange receipts must be
retained.
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. |
