Currency and Foreign Exchange

The unit of the Nepalese Currency is Rupee. One Nepali Rupee is made up of 100 paisa. Nepali rupee notes come in Rs. 5, 10, 20, 50, 100, 500, 1,000 denominations and Rs.1 and 2 in coins. Foreign visitors other than Indian nationals are required to pay their hotel bills and air tickets in foreign currency. However the other payments must always be made in Nepalese currency which can be bought at the foreign exchange counters at the airport or from the ATM. The foreign currency exchange counters of different banks are also opened at different places in the city. Foreign currencies must be exchanged only through the banks or authorized foreign exchange. When exchanging money at the banks or the hotel counter always ensure that you are given an exchange receipt as this is essential for converting your rupees to hard currency on your departure. A maximum of 15% can be converted to hard currency on your departure. Tourists other than Indian are not allowed to import or export the Indian currency. The exchange rates of the foreign currencies are determined by the Nepal Rastra Bank and are announced in the press daily. Nepal currency is not applicable in India.
Indian currency of INR 500 and INR 1000 note is not allowed to be brought into Nepal and will not be exchanged and will not be accepted for transaction of any kind.

Banks

Banks are open 9 am to 3 pm Monday through Friday, Nepal Bank Ltd. on New Road (Ph: 4221185) is open 7 am to 7 pm all days of the week. The Kantipath branch (Ph: 4227375) is open 9 am to 3.30 pm Monday through Friday, 9 am to 1 pm on Saturday, and closed on Sunday. RastriyaBanijya Bank exchange counter at Bishal Bazaar (Ph: 4223776) is open 9 am to 3 pm daily except holidays.