Money changers, banks can exchange Indian currency now

Kathmandu, July 23

The Nepal Rastra Bank (NRB) informed on Thursday that Nepali and Indian nationals can bring the Indian currency notes of 200 and 500 denominations issued and circulated from 9 November 2016 into Nepal, take out of Nepal and exchange here.

However, this facility is for up to a maximum of INR 25,000 per person.

Earlier, the NRB had said in January this year that Nepali and Indian nationals can bring in or take out Indian currency notes of 200 and 500 from Nepal.

But the notice then was silent about the exchange provisions. Now, people bearing the said currency notes up to INR 25,000 can be exchanged from the local money changers, commercial banks and the banks can get their collections exchanged from the central bank.

NRB Spokesperson Guru Prasad Poudel said that the Reserve Bank of India (RBI) will accept the Indian currency from the NRB. It has cleared the confusion prevailing about the exchange of Indian rupee in Nepal.

The NRB also reiterated that Nepali citizens are not permitted to carry Indian currency to countries other than India, nor may they bring Indian currency into Nepal from any country other than India.

Furthermore, as published in the Nepal Gazette on 13 January 2026, no person may transact in Indian currency notes of 500 and 1,000 that were in circulation before 9 November 2016.

Likewise, the NRB said that Nepali and foreign nationals may bring into Nepal foreign currency in cash equivalent to up to USD 5,000 without making a customs declaration. In case of Indian currency, the same limit applies up to the equivalent of USD 5,000.

Likewise, for foreign currencies whose exchange rates are not published by the central bank, cash may also be brought in up to the equivalent of USD 5,000 without declaration. "Any amount exceeding this limit must be declared to the customs authorities and duly certified," the NRB said in the statement.

Published in The Rising Nepal daily on 24 July 2026.