Nepalese Currency is the Rupee. One Nepali Rupee is made up of 100 paisa. Nepali Rupee notes come in Rs. 1, 2, 5, 10, 20, 25, 50, 100, 500 and 1,000. Coins come in paisa 5,10,25,50 Rs. 1 , 2, 5 denominations. Paisa coins are not currently used for common transactions.

Foreign currency, and traveller cheques, can easily be exchanged at banks or authorized agents. In Kathmandu banks have money exchange counters, which are quick and convenient.

Mastercard, Visa and American Express are accepted at all major Hotels, Travel Agencies, Restaurants and Stores. Only the first two though, are currently accepted at banks for money advances.

In the cities, and specially while trekking, change for Rs500 and Rs1000 bills is not easily available.

Money Transfer/received

There is no problem to transfer and receive money from Nepal, however there are a few restrictions to send money out of Nepal. If someone wants to transfer money from Nepal to any other countries out of Nepal and amount more than US$500. authorization is needed from Nepal Rastrya Bank (Centre (Government) Bank of Nepal). You need to supply proper documents and good reason for the same.

Exchange Rates

Nepals currency is set at a fixed exchange rate with the Indian Rupee. 100 Indian Rupees = 160 Nepali Rupees. The USD dollar always changes. Day to day foreign currency exchange rates are published in local English daily newspapers such as The Rising Nepal and The Kathmandu Post.

Banking

Banks are open between 10:00 A.M. to 2:30 p.m, Sunday to Thursdays and between 1 0:00 A.M. to 12:30 p.m. on Fridays. Closed on Saturdays and national holidays. Some Banks in Thamel, Kathmandu are open till later.