Nepal Money Matters, Banking and Credit Cards

Payment in hotels, travel agencies, and airlines are made in foreign exchange. Credit cards like American Express, Master and Visa are widely accepted at major hotels, shops, and restaurants. Remember to keep your Foreign Exchange Encashment Receipt while making foreign exchange payments or transfering foreign currency into Nepalese rupees. The receipts may be needed to change left-over Nepalese Rupees into hard currency before leaving the country. However, only 10 percent of the total amount may be converted by the bank.

Major banks, hotels, and the exchange counters at Tribhuvan Airport provide services for exchanging foreign currency. US dollar travellers checks can be purchased from American Express at Durbar Marg and other major banks in Kathmandu. Banks are open 10 am to 2:30 pm Sunday through Thursday, and 10 am to 12 pm on Friday. Nepal Bank Ltd. on New Road (tel: 221185) is open 7 am to 7 pm all days of the week. The Kantipath branch (tel: 227375) is open 9 am to 5 pm Monday through Friday, 9 am to 1 pm on Saturday, and closed on Sunday. Rastriya Banijya Bank exchange counter at Bishal Bazaar (tel: 228335) is open 10 am to 3 pm daily except holidays.

Nepal Bangladesh Bank at Ramshah Path (tel: 419297) is open 10 am to 3 pm, and its branch at New Road (tel: 217541) is open till 7 pm. Nepal Grindlays Bank branch at Thamel (tel: 233128) is open 10 am to 4:15 pm for credit card services. Counters of Himalayan Bank at Thamel (tel: 227749) and Bishal Bazaar (tel: 224787) are open 8 am to 8 pm, closed on Saturdays. Other banks are Nepal Arab Bank, Kantipath (tel: 227181); Nepal SBI Bank, Durbar Marg (tel: 225326); Everest Bank, New Baneswar (tel: 214878); Nepal Indosuez Bank, Durbar Marg (tel: 228229); Nepal Sri Lanka Merchant Bank, Bagh Bazar (tel: 227555) and the Bank of Kathmandu, Kamaladi (tel: 418068). The counters of licensed money changers are open 12 hours a day.

Exchange rates are published in English dailies such as The Rising Nepal and The Kathmandu Post. Nepalese Rupees are found in denominations of 1000, 500, 100, 50, 20, 10, 5, 2 and 1. Coins are found in denominations of 10, 25 and 50 paisa. One rupee equals 100 paisa.

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