Currency Exchange in Kathmandu

What Currency Is Used in Nepal?

The official currency of Nepal is the Nepalese Rupee (NPR). It’s important to familiarize yourself with the different denominations before arriving. Banknotes come in Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500, and Rs.1,000, while coins are available in smaller denominations like Re.1 and Re.2.

Can I Use Foreign Currency in Nepal?

While US dollars, Euros, and other foreign currencies might be accepted at large hotels or tourist spots, it’s best to carry Nepalese Rupees for day-to-day transactions. Local shops, taxis, and eateries usually prefer NPR, especially outside major tourist areas like Thamel.

Should I Bring Cash to Kathmandu?

Yes, carrying cash is highly recommended. Many places, including local shops and restaurants, only accept cash payments. Although some businesses in Kathmandu may accept credit or debit cards, always have some cash on hand in case electronic payment methods are unavailable.

Where to Exchange Money in Kathmandu

There are several options for exchanging foreign currency into Nepalese Rupees. Here are some common places where you can do so:

1. Tribhuvan International Airport: Currency exchange counters are available at the airport. While convenient, they typically charge higher fees or offer less favorable exchange rates compared to city centers.
2. Banks: Banks in Kathmandu offer reliable currency exchange services. You’ll need to bring identification and possibly wait in line, but the rates are regulated by Nepal Rastra Bank (NRB), ensuring fair transactions.
3. Money Exchange Centers: The tourist hub of Thamel is packed with licensed money exchange centers. They offer competitive rates and are open from 10 AM to 6 PM. Be sure to check for the official NRB license to avoid scams.

Money Exchange Fees in Kathmandu

The exchange rate is set by Nepal Rastra Bank and can fluctuate daily. Generally, there’s a small commission fee for currency exchanges, around Rs.1 per dollar exchanged. Some places may charge higher fees, especially at the airport. Always check the rate before making the exchange to avoid overpaying.

Using ATMs in Kathmandu

ATMs are widely available in Kathmandu, especially in popular areas like Thamel. Most ATMs allow withdrawals of between Rs.10,000 to Rs.30,000 per transaction, depending on the machine. However, be aware of ATM fees, which typically range from Rs.500 to Rs.700 per transaction. Ensure your bank back home is informed about your travel plans, so they allow international transactions.

Best Places for Currency Exchange in Kathmandu

Here are some trusted money exchange centers in Kathmandu:

• Alpine Money Exchange – Thamel, Kathmandu
• Z Money Exchange – Thamel, Kathmandu
• Annapurna Money Exchange – Thamel, Kathmandu

These centers follow the daily exchange rates provided by Nepal Rastra Bank, ensuring transparency and reliability.

Can I Pay by Card in Nepal?

Yes, major credit cards like Visa, MasterCard, and American Express are accepted in larger hotels, restaurants, and shops, especially in Kathmandu. However, smaller businesses and local shops usually only accept cash. Always carry a backup amount of cash, as card payment systems can sometimes be unreliable due to poor internet connections.

How Much Cash Should You Carry to Nepal?

The amount of cash to bring depends on your itinerary. For example, if you’re planning to trek in the mountains, having extra cash is essential as there are few ATMs in remote areas. A budget of around $700 to $1,000 in cash should cover most expenses for a week or two in Kathmandu, with more needed if you venture into rural areas for trekking.

Money Exchange Rate in Kathmandu

Exchange rates vary daily based on the official rate published by Nepal Rastra Bank. As of the latest update, the following rates apply:

• USD (US Dollar): Rs.133.75
• EUR (Euro): Rs.144.31
• GBP (British Pound): Rs.168.69
• AUD (Australian Dollar): Rs.87.10

Always check the rates before exchanging your currency to ensure you’re getting the best deal.

Foreign Exchange Policy in Nepal

Nepal has strict regulations around currency exchange. Money exchangers must be licensed by Nepal Rastra Bank, and rates are regulated. Never exchange money through unofficial sources, as this could lead to legal complications or unfavorable rates.

FAQs

Should I exchange money before traveling to Kathmandu?

It’s not necessary to exchange money before you arrive in Kathmandu, as there are plenty of money exchange options at the airport and in the city.

What’s the maximum amount of cash I can bring to Nepal?

You can carry up to $5,000 in foreign currency when entering Nepal, as per government regulations.

Where can I exchange pounds or euros in Nepal?

Any licensed money exchange center in Kathmandu will exchange foreign currencies like GBP and EUR. Major banks also offer these services.

Is $100 enough for a few days in Nepal?

Yes, $100 (around Rs.13,000) can last you 3-4 days, depending on your spending habits. However, for more comfort and activities, you might want to carry more.

By following these tips, you’ll have no trouble navigating the money exchange system in Kathmandu. With proper planning, you’ll be prepared for a smooth and enjoyable trip.