Nepal Increases Foreign Travel Currency Limit to USD 3,000

Kathmandu: The Nepal Rastra Bank has increased the limit on the amount of foreign currency that Nepalis can carry while traveling abroad to 3,000 US dollars.

Governor Prof. Dr. Bishwo Nath Poudel announced the revision while unveiling the monetary policy for the upcoming fiscal year 2025/26. Previously, the limit was set at 2,500 US dollars.

NRB stated that currencies of countries with growing foreign currency transactions, including Bangladesh and Sri Lanka, will be added to the list of convertible foreign currencies.

The exchange rate (Fedan rate) used in remittance transactions will be reviewed as necessary, and new policy arrangements will be introduced to facilitate interbank transactions in convertible currencies.

To manage foreign exchange risks and attract foreign investment, the central bank plans to make arrangements through commercial banks. In addition, the ‘Nepal Rastra Bank Foreign Investment and Foreign Debt Management Regulations, 2021’ will be amended to create a more investment-friendly economic and business environment.

The monetary policy also includes a review of the limit on foreign currency cash that must be declared to customs and aims to simplify the process for submitting details of foreign currency holdings abroad by Nepali citizens and institutions.

Furthermore, the NRB plans to review existing regulations related to gold import, sale, and distribution. In recognition of the increasing role of remittance companies in the economy, the policy also proposes to introduce a classification system for these companies based on their capital and turnover.