Nepal Rastra Bank increases foreign exchange and payment limits

Nepal Rastra Bank office in Thapathali. Photo: Shambhu Regmi

KATHMANDU: The Nepal Rastra Bank (NRB) has revised its foreign exchange regulations, increasing the limits for foreign currency payments and exchange services for businesses and individuals. The central bank’s foreign exchange management department announced the changes through an amendment to the unified circular for 2082, affecting imports, service payments, and various other transactions.

According to the revised directive issued on Oct. 5, the annual foreign exchange facility for Nepali citizens seeking medical treatment abroad has been increased from 16,000 to 30,000 U.S. dollars. Similarly, the limit for advance payments made through banks for the repair of aircraft engines or spare parts has been raised from 100,000 to 500,000 U.S. dollars.