KATHMANDU, Jan 1: Nepal Rastra Bank (NRB) has adopted a more flexible policy on foreign currency exchange.
Issuing a circular on Sunday, the central bank announced that gold and silver industries and traders will now be allowed to exchange foreign currency of up to USD 2 million.
NRB allows importing silver worth $ 60,000 at a time as foreign...
Previously, industries involved in the gold and silver business were permitted to exchange foreign currency equivalent to up to USD 500,000 per transaction to import silver as an industrial raw material for their own use, such as for making silver jewelry, artistic items, utensils, and similar products.
Under the revised provision, industries that import only once a month will now be allowed to exchange up to USD 2 million at a time, according to the central bank.
Similarly, for other businesses, the foreign exchange limit has been increased from USD 100,000 to USD 400,000.
