Currency in Nepal, Economy
If you are planning to visit Nepal it would be best for you to exchange some of your money into the local currency as you are almost always required to pay for goods or services with Nepalese Rupee. The only time a foreigner would make an exception to this rule is when he or she pays for airline tickets, trekking permits or hotel bills. Local currency cannot be imported and foreign currency must be declared on arrival.
If you do not feel comfortable carrying around a lot of money, travellers’ checks are accepted at banks and major hotels but should be in US dollars or Great Britain pounds. A better option is that of American Express, MasterCard and Visa which is accepted in tourist shops, hotels, restaurants and agencies. You will also find a large number of ATMs in Nepal.
The Nepalese Rupee (NPR) is made up of 100 paisa. Coins are available in 50p, 25p and 10p denominations while notes are available in groupings of NPR1000, 500, 100, 50, 20, 10, 5, 2 and 1. Currency can be exchanged with authorised dealers such as banks, hotels and licensed money changers and visitors should note that it is illegal to exchange currency with any one who is not authorised to do so. It is also a good idea to keep all exchange receipts which are needed for some transactions and can be used to reconvert the money on departure.
Most Nepalese banks are open from about 9am to 3pm though this changes according to location and day of the week. Most licensed money changers are open for 12 hours of the day so it is usually quite easy to exchange your money. The money exchange system in Nepal is well developed and easy to understand which means that your stay in this spectacular country will be all the more enjoyable.
