 Nepal has modern banking facilities and some international banks even have offices in Kathmandu. Almost all foreign currencies along with credit cards such as American Express, Visa, and Mastercard are accepted in Nepal. All visitors are required to exchange their money through the bank or authorized agents. In Kathmandu banks with money exchange counters are found everywhere and most hotels also have exchange counters. These facilities to change money are quick and convenient. It is necessary to ask for receipts when money is changed. On the return journey, if one is left with Nepalese rupees they can be exchanged for 15% of the amount on these receipts into any foreign currency at the Tribhuvan International Airport in Kathmandu. Remember to retain Rs. 1356 for airport tax when departing on flights to SAARC Countries (India, Bhutan, Pakistan, Bangladesh, Sri Lanka and Maldives) or Rs.1695.00 for all other international destinations.
It is generally not possible to change foreign currency/travelers checks (except in Namche Bazaar, Jomsom, Salleri, Okhaldunga, Pokhara etc.) in the mountains. One must therefore change required money in Kathmandu before the trek starts. When cashing money for the trek, always ask for small denominations (ones, twos, fives, twenties and some in fifties and hundreds - never in five hundreds and thousands), and be careful about torn or damaged bank notes. The people in the village may not accept them.
Payment in hotels, travel agencies, and airlines are made in foreign exchange. Credit cards like American Express, Master and Visa are widely accepted at major hotels, shops, and restaurants. Remember to keep your Foreign Exchange Encashment Receipt while making foreign exchange payments or transferring foreign currency into Nepalese rupees. The receipts may be needed to change left-over Nepalese Rupees into hard currency before leaving the country. However, only 10 percent of the total amount may be converted by the bank. ATM is widely in use in Kathmandu. Major banks, hotels, and the exchange counters at Tribhuvan Airport provide services for exchanging foreign currency.
Exchange rates are published in English dailies such as The Rising Nepal, The Kathmandu Post and The Himalayan Times. Nepalese Rupees are found in denominations of 1000, 500, 100, 50, 20, 10, 5. Still in Nepal, we have 1,2 and 5 rupees coins available |
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