Planning a Nepal trip? You can now carry up to ₹25,000 in Indian cash. Here's what changed

Nepal has eased rules governing the movement of Indian currency, allowing Indian and Nepalese nationals to carry Indian ₹200 and ₹500 notes worth up to ₹25,000 per person across the border, provided the notes were issued on or after November 9, 2016, according to a report by PTI.b

The Nepal Rastra Bank (NRB), in a notice issued on Thursday, said Indian currency notes of ₹500 and ₹1,000 denominations issued before November 9, 2016, remain prohibited in Nepal.

However, Indian currency notes of ₹200 and ₹500 issued after November 9, 2016, can be carried, brought into or taken out of Nepal by Nepali or Indian citizens up to a limit of ₹25,000 per person, in accordance with prevailing regulations.

Though the provisions were already notified by the NRB through a notice published in the Nepal Gazette on February 11, the central bank on Thursday issued a fresh notice reiterating the regulations and clarifying their implementation.

Clarifying the new rules, NRB spokesperson Guru Prasad Paudel said on Saturday that Nepalese nationals cannot bring Indian currency into Nepal from any country other than India. Likewise, they cannot carry Indian currency from Nepal to a third country, except India.

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He said the new provision would facilitate Indian tourists visiting Nepal and Nepalese nationals engaged in trade and business with India.

The latest move eases restrictions on the movement of Indian currency between the two neighbouring countries, which share close people-to-people ties and an open border.

India is Nepal’s largest trading partner and source of tourists, while thousands of Nepalese citizens work, study and conduct business in India.

The notice also said Nepalese nationals and foreign visitors can bring up to USD 5,000, or its equivalent in other foreign currencies, into Nepal without making a customs declaration. Amounts exceeding USD 5,000 must be declared to customs upon arrival.

India demonetised ₹500 and ₹1,000 currency notes on November 8, 2016, replacing them with redesigned ₹500 notes and introducing new ₹2,000 notes, which have since been withdrawn from circulation.

Following the demonetisation, Nepal had imposed restrictions on the use and movement of the old Indian currency notes.