NRB limits cash carry to $5,000 to curb cross-border forex smuggling
Summary
Nepal Rastra Bank limits travelers to carrying a maximum of US $5,000 in cash to curb cross-border forex smuggling and enhance compliance with international financial regulations.
Key Points
- Nepal Rastra Bank has set a cash carrying limit of US $5,000 for travelers entering or leaving Nepal.
- Individuals carrying more than $5,000 must declare the amount to customs in advance.
- NRB has prohibited carrying Indian currency in denominations of 200, 500, and 2,000 rupees and barred Nepali citizens from carrying Indian currency to countries other than India.
- These measures aim to control currency smuggling and support Nepal's efforts to exit the FATF grey list.
