Currency & Payments

Currency & Payments

The monetary unit of Nepali currency is Nepali Rupee its short form is NRS. Its value of rupee comes in 1, 2, 5, 10, 20, 25, 50, 100, 500, and 1000 in paper notes, the 1 and 2 and 25 are rare. There are coins of 1, 2, and rare with 5-rupee quantities. There are foreign currency exchange counters at an international airport. You can make a change upon your arrival at the airport. You better make changes at stalls and banks. But you also can pay USD for the visa on demand at the airport ($25 USD for 15 days, $100USD/90 days.

Usually the star hotels in Kathmandu, Chitwan, and Pokhara usually also exchange currency, but rates may differ from those you can find in foreign currency exchange stalls in Kathmandu. Therefore, if you are traveling out of Kathmandu you better make a change and also take small currency, because, there are small business houses out of Kathmandu valley, which usually can not provide a change of larger amount such as Rs. 500 and Rs. 1000 rupee notes.

One Indian National Currency (INR) is equivalent to 1.6 NRS (10 INR is 16 NRS, and 100 INR equals 160 NRS).

There are several Automated Tailor Machines (ATMs) machines in Kathmandu and some of the major cities across the country, but the cash retrievable is limited with a maximum of 10,000 NRS (under $150 USD). Therefore, you better bring cash or a traveler’s Cheque to avoid successive ATM charges.

Many banks have their branches in most of Nepal’s district headquarters and major cities across the country such as Chitwan, Pokhara, Lumbini, and so forth. But, these branch offices rarely provide the facility of foreign currency exchange facilities.

The exchange rate of foreign currency often keeps fluctuating. The exchange rate of major currency on July 14, 2013, is, 96 NRS per 1 US Dollar, 101 NRS per 1 British Pound, 125 NRs per 1 Euro, 97 NRS per 100 Japanese Yen, 15 NRS per 1 Yuan.

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