Nepal's Central Bank allows ₹200 and ₹500 Indian rupee notes

Nepal Rashtra Bank, the Central Bank of Nepal, has issued a circular on 23 July allowing ₹200 and ₹500 Indian rupee notes to be carried and exchanged by Nepali or Indian citizens within Nepal, as long as the notes were issued after 9 November 2016 and the amount per person is less than ₹25,000.

The rules apply to Indian and Nepali citizens only.

Restrictions had been placed on currency denominations of Indian rupee notes within Nepal following India’s decision to demonetise its notes in November 2016. No restrictions were placed on currency notes and coins of ₹100 denomination or lower.