15.12.18

Use of Indian currency notes over ₹100 now banned in Nepal

Nepal has banned the use of Indian currency notes over the denomination of Rs.100. Indian visitors planning a trip to Nepal, and Nepalese citizens working in India and returning home or sending money home, should no longer take Indian currency notes of Rs.200, Rs.500, and Rs.2,000.

Hitherto, Indian currency notes of all denominations was accepted in Nepal but, even earlier, notes of Rs.500 and Rs.1,000 were not easily accepted there. That is, even before PM Narendra Modi demonetized these notes in November 2016.

“There was an old advisory from India to this regard, even before 2016, as fake currency notes in these denominations were in circulation there. Nepal was one of the places from where counterfeit notes of Rs.500 and Rs.1,000 used to be brought into India,” sources said. After demonetization, India introduced new notes in Rs.200, Rs.500, and Rs.2,000 denominations. Now, even these will not be accepted in Nepal.

“This will affect Indian travellers, as they normally use Indian currency. Nepalese citizens working in India will now have to send money electronically. For those planning to send home currency notes, it must be done in notes of up to Rs.100,” sources said.

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