Banking News – The Foreign Exchange Management Department of Nepal Rastra Bank (NRB) has clarified the rules governing the import and export of cash foreign currency, reinstating the existing provisions under the Foreign Exchange (Regulation) Act, 1962 (2019 BS) and the Asset (Money) Laundering Prevention Act, 2008 (2064 BS).

According to the NRB notice, Nepali and foreign nationals are permitted to bring cash foreign currency equivalent to up to US$5,000 into Nepal without making a customs declaration.

The same provision applies to Indian currency equivalent to US$5,000, as well as to other foreign currencies for which NRB does not publish an official exchange rate.

However, the central bank has made it clear that any cash foreign currency exceeding the equivalent of US$5,000 must be declared at the customs office, and travelers are required to obtain official verification upon entry into Nepal.

NRB also reiterated the regulations concerning Indian currency. As per the notice published in the Nepal Gazette on January 11, 2026 (2082 Poush 28 BS), the use and transaction of Indian ₹500 and ₹1,000 banknotes issued before November 9, 2016, remain strictly prohibited in Nepal.

Meanwhile, Indian ₹200 and ₹500 banknotes issued after November 9, 2016, may be brought into, taken out of, or exchanged in Nepal by Nepali and Indian citizens, subject to a maximum limit of INR 25,000 per person, in accordance with prevailing regulations.

The central bank further reaffirmed that Nepali citizens are not permitted to carry Indian currency to or from any country other than India, and the existing restriction remains in force.