Kathmandu. Nepal Rastra Bank (NRB) has said that there is no need to declare customs duty while bringing or carrying up to $5,000 to Nepal.

According to the Foreign Exchange Management Department of the Rastra Bank, Nepali or foreign nationals can easily bring or carry foreign currency up to US$ 5,000 or equivalent to Nepal.

When bringing or carrying more than that amount, it has to be disclosed to the customs office. According to the NRB, it has been established on the basis of Sections 5 and 12 of the Foreign Exchange (Regulation) Act, 2019 and Section 999A0 of the Prevention of Money Laundering Act, 2064.

Similarly, the Rastra Bank has mentioned in the Gazette that indian rupee 500 and 1000 rupee notes in circulation before November 9, 2016 cannot be used in Nepal. Nepal Rastra Bank (NRB) has reminded that it will not be allowed to carry or transact rs 200, Rs 500 and Rs 2,000 notes to Nepal.

“Keeping, transporting or transacting Indian currency notes of Rs 200, Rs 500 and Rs 2,000 within Nepal shall be against the law,” reads the notice. Nepal Rastra Bank (NRB) has urged the general public to remain alert in this regard.