July 21: Nepali nationals going abroad will now be able to get foreign currency of up to US$ 200 through money exchange service providers licensed by Nepal Rastra Bank (NRB).

With this arrangement, the service seekers will no longer have to reach banks to exchange up to US$ 200 while going abroad. It will be especially easy for workers who go abroad for employment.

NRB amended the unified directive 2078 and made arrangements so that even money changers can exchange foreign currency up to US$ 200 per day per person for Nepalese going abroad.

NRB has been providing foreign currency worth US$ 1,500 through banks to the general people who are planning to go for a foreign trip on tourist or business visa. Those who go abroad with a work permit do not get the facility of exchanging currency worth US$ 1,500.

Increase in license fee

Meanwhile, the NRB has increased the license fee and deposit fee for operating money exchange service. By revising the Foreign Exchange Regulations 2077, the central bank increased the license and deposit fees for money changers who conduct transactions with passports of Nepali citizens traveling abroad.

According to the regulations, an additional fee of Rs 25,000 has been fixed for issuing a license to provide the facilities for the passport holders. Apart from this, the fee of Rs 25,000 for exchange of Indian currency, Rs 100,000 for transaction of convertible foreign currency and Rs 125,000 for both the services are kept unchanged.