Currecy Update: Every year, thousands of folks from India head to Nepal, and a good number of them also work there. Great news has arrived for these individuals! After a decade, the Nepal government has lifted the ban on Indian currency notes over Rs 100. Now, you can hold Rs 200 and Rs 500 notes in Nepal, but there’s a limit. This change will make things a lot easier for tourists, workers, and businesspeople.
So, how many Indian rupees can you carry now?
According to the decision made by the Nepal Cabinet, you can now have Indian Rs 200 and Rs 500 notes up to a maximum of Rs 25,000. This rule is for both Indian and Nepalese citizens. So, carrying those larger denomination notes between India and Nepal is now totally legal.
RBI rules have changed, and Nepal has followed suit
This decision comes after the RBI in India updated its rules, allowing Indian, Nepalese, and Bhutanese citizens to carry high-value Indian currency notes when traveling to and from India. Previously, there was a strict ban on holding Rs 500 and Rs 1000 notes in Nepal. Many Nepali workers in India had to deal with lower-denomination notes, which increased the risk of theft and pickpocketing, leading to many cases of imprisonment. This also hurt the tourism sector since Indian tourists couldn’t spend freely.
Indian tourists and businesses are set to gain from this
This decision is likely to bring relief to hotels, casinos, and businesses in the border areas of Nepal. Tourism experts say that many Indians were unaware of the previous rules and faced fines or even arrests. Now, such issues should decrease.
What is the value of 100 Indian Rupees in Nepal?
Many people assume that since India and Nepal are neighboring countries, the value of the rupee would be the same, but that’s not true. According to the Nepal Rastra Bank, one Indian rupee is worth 1.60 Nepalese rupees. This means that if you take 100 Indian rupees to Nepal, their value there is 160 Nepalese rupees. If you exchange money at a bank or money exchange counter in Nepal, a small fee is deducted. For 100 Indian rupees, you’ll get approximately 156 to 159 Nepalese rupees, depending on the location and the charges.
Direct calculation of Rs 200 and Rs 500
If you have 200 Indian rupees, it’s worth around 320 Nepalese rupees in Nepal. However, if you exchange it at a bank, you can get around 312 to 318 Nepalese rupees. Similarly, 500 Indian rupees are equivalent to approximately 800 Nepalese rupees in Nepal. When exchanged at a bank or exchange, this translates to approximately 780 to 795 Nepalese rupees. If you’re traveling to Nepal for business or leisure, you can now carry Rs 200 and Rs 500 notes, but the total amount should not exceed Rs 25,000.