Nepal govt bans Indian currency above Rs 100
New Delhi : Shocking! The Nepal government has banned the transaction of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations in the country. The decision is likely to severely affect Nepalese people working in India.
This sudden decision of Nepal govt could also affect Indian tourists visiting Nepal, where Indian currency is widely circulated. The Nepalese government has asked its citizens to stop carrying or using more than Rs 100 denomination notes.
Nepal's Minister for Information and Communications Gokul Prasad Baskota said, "The government has decided not to use, carry and keep the Indian bills of 200, 500 and 2000 denominations. The government will soon issue a formal notice in this matter."
To inform, India is the largest trading partner of Nepal and their decision to ban all Indian currencies above Rs 100 denomination would also affect Nepalese people and business for their transactions.
Nepal Premier K.P. Sharma Oli had earlier said that India's move to demonetise currency in 2016 had hurt the economic interests of Nepalese people and that he would raise the issue with Indian leaders.
The Indian government had introduced new currency notes of Rs 2,000, Rs 500 and Rs 200 after the demonetisation of old notes in 2016. However, the citizens of Nepal have been using the new Indian currency in their country for nearly two years now.