The first thing you want to do when you arrive in Kathmandu or enter Nepali territory is exchange money. Any traveler who visits another country needs to exchange money. Before traveling abroad, everyone wants to learn as much as possible about currency conversion. This blog is all about credentials and currency exchange in Kathmandu.
Foreign Currency Exchange in Kathmandu
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Official Currency of Nepal
The Nepalese Rupee is the authorized currency of Nepal, issued by Nepal Rastra Bank. Nepal Rastra Bank gives notes of Rs 1, 2, 5, 10, 20, 50, 100, 500, and 1000 and coins of Rs 1 and 2.
Exchange to Foreign Currencies
In Nepal, there are various exchange rates for various currencies. The exchange rate between Nepal and India is fixed at NPR 1.60 = INR 1. All other currency rates are open and subject to daily change. You can exchange your money at the base rate specified by Nepal Rastra Bank. You can see the exchange rates which can exchange in Nepal in the link given: https://www.nrb.org.np/forex/#forexGraph
Places For Exchanging Money In Kathmandu
In Kathmandu, there are many locations where you may exchange money. These include Tribhuwan International Airport, banks, ATMs, and authorized foreign exchange brokers. These locations provide currency exchange services practically for specific few international currencies. While Tribhuwan International Airport and ATMs are open 24 hours a day, banks and foreign exchange dealers have certain hours for opening. On weekdays and non-holidays, most banks and foreign exchange offices are open from 10 am to 5 pm; on Fridays, they are open from 10 am to 2 pm. Since Saturday is a public holiday, the service will not be provided.
You also have the option to exchange money at the Tribhuvan International Airport before you leave for the nation. Two money exchange offices can be found inside the airport in the arrivals area. If you need to exchange money when leaving the nation as well, you can find a bank counter in the departure hall that will provide the service.
Currency to Carry in Nepal
You cannot exchange your money anywhere in Nepal. So, if you have cash on hand we advise you to carry NPR for convenience's sake. Different transactions are preferred to do in cash. If you are trekking in distant places, where there aren't any ATMs or money changers, you'll need to bring cash along with you.
Some Useful Tips
- Choose the money exchange office which provides high exchange rates.
- When exchanging currency, keep your passport on you, and never throw away the exchange receipt.
- Banks may take a little longer to exchange since they need to complete documentation. We advise using foreign currency bureaus.
- Always verify that the exchange rates and NRB's rates are in sync; while small variations are common, substantial discrepancies should not be tolerated.
- In Kathmandu, cards are usually accepted, so you are not required to spend cash in eateries, hotels, bars, and shopping centers.
That is all there is to have an idea about Nepali foreign exchange. Cash would not be an issue as long as there are money exchange facilities nearby, but you should use precautions when visiting rural locations.