Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has eased the dollar exchange facility for students going abroad for higher studies.

Nepal Rastra Bank (NRB) has issued a unified circular facilitating the exchange of dollars.

The embassy or government agency of the concerned country may provide exchange of the required amount on the basis of a document confirming that the embassy or government agency of the concerned country is required to show a certain amount in the local currency which is not in the list of convertible foreign currency specified in the student’s account name for the receipt or renewal of the visa of the student going to study abroad or for the maintenance expenses.

In case the amount of additional expenses incurred due to fluctuations in exchange rate is not ascertained, the amount to be sent can be increased by up to 5 percent of the amount to be sent to the US dollar or other convertible foreign currency, according to the NRB.

Although it is mentioned that the documents to be submitted according to the Integrated Circular-2082 of the Rastra Bank should be genuine, the electronic transactions

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It is also mentioned that the document certified by digital signature by completing the process mentioned in the Act, 2063 or the rules framed under the Act should also be recognized.