Nepal Rastra Bank Relaxes Silver Import Rules, Allows Imports Up To $500,000 Per Transaction

Nepal Rastra Bank (NRB) has eased rules for silver imports, allowing importers to import silver worth USD 500,000 per transaction.

The central bank, issued an amendment to its unified directive on Sunday, increasing the exchange facility for silver imports. Previously, importers were permitted to use up to USD 300,000 per transaction.

According to the directive, industries engaged in the gold and silver business can access foreign exchange facilities of up to USD 500,000—or the equivalent in other convertible foreign currencies—when importing silver as a raw material for making jewelry, artifacts, utensils, and other industrial purposes. Other silver traders will be eligible for foreign exchange facilities up to USD 100,000 per transaction. However, exporters of silver jewelry and artistic items will be granted facilities based on specific provisions.

The directive also requires commercial banks to verify whether silver imported under the foreign exchange facility has been exported as declared before approving subsequent facilities. Additionally, traders must provide a self-declaration confirming that they do not have unpaid liabilities with other banks when seeking such facilities.

According to NRB data, Nepal imported silver worth Rs 5 billion in the first 10 months of Fiscal Year 2024/25, up by 68.8 percent compared to the Rs 3 billion recorded in the same period of the previous year.

The central bank said it has been gradually easing foreign exchange rules as reserves have strengthened. Nepal’s foreign exchange reserves stood at Rs 2041 billion in mid-July 2024, which increased by 25.9 percent to Rs 2569 billion by mid-June 2025. In US dollar terms, reserves rose from USD 15.27 billion to USD 18.65 billion during the same period.

Based on imports of the first 11 months of FY 2024/25, NRB stated that the banking sector’s reserves are sufficient to cover 17.6 months of merchandise imports and 14.7 months of goods and services imports.