During your visit to any country, the first thing that comes into our mind is Exchanging foreign currency. Many tourists may have an issue during their travel to a foreign land. Once you landed at Tribhuwan International Airport (TIA), you will see much Foreign Currency Exchange in Nepal including Kathmandu and other big cities. Even big rating hotels also have exchange facilities inside their premises. Is it safe to exchange currency here, where can I get the best rates and so on? This article will clear your doubts about Foreign Currency Exchange in Nepal if you are travelling for a holiday or any other purpose.
You can exchange almost every type of currency in Nepal. But if you have USD and Euros you are lucky because there are numerous travel agencies, a hotel that accepts their currencies directly in cash payments. Nepal does have modern banking facilities and international bank branches in Kathmandu. During your stay in Kathmandu and other big cities, you don’t need to carry much cash. Because card such as Visa, Master Card, American Express, Diners Club, Cirrus and Maestro are accepted. When you withdraw through ATM or do payment transactions, you need to pay a 3.5 % service charge.
We will not recommend you to carry the Traveller’s cheque while you are in Nepal. The only place you can exchange it is the bank.
About Nepalese Rupees
Nepal’s currency is known as Nepalese Rupee and abbreviates as NPR. service providers and merchants use NPR or Nrs. to denote the price in Nepalese currency. Currencies that are issued by Nepal Rastriya Bank (NRB) are available in denominations of NPR 1, 2, 5, 10, 20, 25, 50, 100, 250, 500, and 1000. Coins include NPR 1, 2, 5, and 10. But most used notes are 5, 10, 50, 100, 500 and 1000 and 1 and 2 rupees coins.
Exchange Rate in Nepal
The exchange rate is market-determined so, it will change from day to day. However, if you are from India then there is a fixed exchange rate. To exchange Indian currency (INR) to NPR then 1 INR exchanges for 1.61 NPR at all times. To view day to day exchange rate of Nepal then please visit the Central Bank of Nepal – Nepal Rastriya Bank
Places for Exchanging Foreign Currency
Main tourist cities like Kathmandu, Pokhara, and Lumbini have many places where you can get your foreign currencies exchange. These include banks, authorized forex, hotels, and also in Tribhuvan International Airport.
Well-known banks include Everest Bank, Standard Charted Bank, Himalayan Bank, Nepal SBI Bank, and many others. Most banks are open between 10:00 AM to 5:00 AM from Sunday to Friday. But on Friday many banks will close at 2:00.
Money Exchange Center
If you are in Kathmandu, mainly you can see money exchange center in Thamel. These money exchange centers are open from 10:00 AM to 6:00 PM any day. Some transaction fees might be involved for both banks and forex centers.
Tribhuvan International Airport
Tribhuvan International Airport also offers you to exchange currency with your arrival in the country. You can find many exchange centers inside the airport at the arrival lounge. You can again change Nepalese currency to other currency while you are leaving Nepal. They provide service at departure lounge through bank counter
Some Useful Tips
- Always keep the currency exchange receipt safe and carry your passport if you are changing money through bank.
- The airport will change your currency at the lowest rates. So change your currency from money changing centers or banks. If you need immediate transaction then change a small amount from the airport.
- Please enquire with banks and credit card companies about the usage of your card in Nepal because sometimes they may not allow you to or impose heavy charges.
- We recommend you forex centers to exchange the currency then bank because the bank consumes more time as you have to deal with some paperwork.