PARSA, Aug 28: Nepal Rastra Bank has made arrangements for Indian nationals to bring an equivalent of five thousand US dollars in Indian currency while visiting Nepal. With this new policy, the tourism business in the border areas is expected to increase further.
Previously, business owners complained about the provision allowing only twenty-five thousand Indian rupees. The federal government, through the budget for the current fiscal year, announced on May 29, has made it possible for travelers entering Nepal by air or land to bring foreign currency or travelers' cheque equivalent to five thousand US dollars that will be exchangeable in Nepal.
NRB turns flexible on threshold for foreign currency use after...
The central bank issued a public notice on August 26, allowing Nepali or foreign citizens to bring foreign currency up to five thousand US dollars in cash.
Hari Pant, president of the Hotel and Tourism Entrepreneurs Association in Birgunj, shared that the provision allowing Indian tourists to bring Indian rupees equivalent to five thousand US dollars without customs declaration would provide relief to the local tourism entrepreneurs.
Birgunj has more than 85 hotels, including four-star hotels. However, tourists have not been able to extend their stay as expected. Entrepreneurs in the tourism sector say that the local tourism industry is sustained largely by Indian tourists.
