Kathmandu: The Nepal government has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations as it has not yet legalized the new notes. This move comes at the peak tourist season in the Himalayan nation and is expected to affect Indian tourists visiting Nepal, where Indian currency is widely used.
The government of Nepal has asked people to refrain from keeping or carrying Indian bank notes higher than Rs 100 denomination as it has not legalized them.
Nepal’s Minister for Information and Communications Gokul Prasad Baskota said. “The government has decided not to use, carry and keep the Indian bills of 200, 500 and 2,000 denominations. The government will soon issue a formal notice in this matter.”
The Indian currency is extensively used by Nepalese people as well as businesses for their savings and transactions. The decision to ban Indian notes above Rs. 100 will adversely affect Nepalese laborers working in India as well as Indian tourists visiting Nepal.
India is Nepal’s largest trade partner and supplies the majority of its consumer goods. The demonetization of old notes in 2016 had hit countries like Nepal and Bhutan where Indian currency is extensively used.
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