Currency in Nepal NPR - Things to know
Foreign exchange guide to Nepal and the Nepalese rupee
What's in this Nepal currency guide?
What currency is used in Nepal?
The official currency of Nepal (country code: NP) is the Nepalese rupee, with symbol ₨ and currency code NPR.
Things to know about the Nepalese rupee
The Nepalese rupee (NPR) is the official currency of Nepal, a country located in South Asia. Here are a few things to know about the Nepalese rupee:
- The Nepalese rupee is abbreviated as NPR and is divided into 100 paisa.
- The Nepal Rastra Bank is responsible for issuing and regulating the Nepalese rupee.
- The exchange rate for the Nepalese rupee is determined by supply and demand in the foreign exchange market.
- Nepal has a largely agricultural economy, with a significant portion of the population engaged in farming and livestock production. The country is also a major producer of hydropower and has a growing tourism industry.
- The Nepalese rupee has experienced significant depreciation in recent years due to economic challenges such as high inflation and a large trade deficit. In addition, Nepal has faced political instability and conflict, which have also had an impact on the value of the Nepalese rupee.
Travel money for Nepal
As mentioned above, the Nepalese rupee is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (NPR) before departure and will need to buy it upon arrival in .
For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the NPR you will incur currency conversion or foreign transaction fees if you use a travel money card in .
However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.
Travel Ideas and Money Tips for Nepal
Describe Nepal for travelers and expats
Nepal is a landlocked country in South Asia that is bordered by China and India. It is a beautiful country with some of the world's highest mountains, including Mt. Everest. The Nepalese people are friendly and welcoming, and the country has a rich culture and history. There are many things to see and do in Nepal, from hiking and trekking in the mountains, to visiting Buddhist temples and monasteries. Nepal is an excellent place to experience exotic food, culture, and landscapes.
Best things to do and see in Nepal
Some of the best things to do and see in Nepal are:
-Hiking and trekking in the Himalayas
-Dungeon crawling in the many ancient temples and monasteries
-Riding an elephant through the jungle
-Bungee jumping off the Bhote Koshi Bridge
-Visiting the Chitwan National Park to see rhinos and other wildlife
-Para-gliding in Pokhara
-Whitewater rafting on the Trisuli River
-Shopping for traditional Nepalese handicrafts and textiles.
Top Travel tips for Nepal
1. Drink plenty of water and stay hydrated.
2. Prepare for altitude sickness and bring medicines.
3. Avoid drinking tap water.
4. Don't trek alone, always go with a guide.
5. Be aware of the signs of Acute Mountain Sickness (AMS) and don't hesitate to turn back if you feel unwell.
6. When trekking in the Himalayas, be sure to wear layers of clothing to protect against the cold.
7. Don't trek during the monsoon season (June-September) as the trails can be slippery and dangerous.
8. Don't photograph the locals without their permission.
9. Be respectful of religious sites and don't enter them if you're not a believer.
10. hile haggling is common in Nepal, be respectful and don't try to low-ball the prices too much.
Is it safe in Nepal?
As with any travel destination, it is always important to research local conditions and advisories before travelling. The U.S. Department of State currently has a Level 2 Travel Advisory in effect for Nepal, which urges travelers to exercise increased caution when visiting due to crime and civil unrest.
What is the cost of living in Nepal?
The cost of living in Nepal is relatively low when compared to other countries. The average person can expect to live on around $1,500 per month, which covers the cost of food, housing, transportation, and other basic necessities.
USD/NPR Market Data
The below interactive chart displays the USD/NPR trend and UP▲ DOWN▼ HIGH▲ LOW▼ alerts
Frequently Asked Questions
What currency should I use in Nepal?
The domestic currency in Nepal is the Nepalese rupee.
What is the Nepalese rupee currency code and symbol?
The three letter currency code for the Nepalese rupee is NPR — symbol is ₨.
Which countries use the Nepalese rupee?
It is the domestic currency in Nepal.
Is the Nepalese rupee a closed currency?
Yes the Nepalese rupee is a closed currency. Which means that you may find it difficult to purchase the currency (NPR) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.
For more information and a full list of closed currencies please refer to our guide: What is a closed currency?
What are equivalent amounts of USD and NPR?
Converted at USD/NPR interbank rate, compare Send Money and Currency Exchange exchange rates.
Send Money to Nepal - Best Rates
To get a good (and fair) exchange rate when sending money to Nepal you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Nepal
When sending money to Nepal it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Nepalese rupee amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted NPR amount will be transfered to the recipient account you specify in Nepal.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Nepalese rupee deposited into the recipient bank account and less margins and fees kept by the banks!
Expat Money & Business Guide to Nepal
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Nepal.
How is the expat life in Nepal?
Expat life in Nepal is an adventure. The country is rich in culture and natural beauty. There are many opportunities to explore the Himalayan mountains, trek to remote villages, and experience the local lifestyle. Nepal is also a great place to learn about Buddhism and Hinduism. The people are friendly and welcoming, and the food is delicious.
Any laws in Nepal that foreigners should be aware of?
There are a few key laws in Nepal that foreigners should be aware of. The first is the law of reincarnation, which stipulates that a person's soul is reborn into another person or animal after they die. The second is the law of karma, which states that a person's actions in this life determine their fate in their next life. The third is the law of dharma, which is the law of righteous living.
What is doing business like in Nepal?
Doing business in Nepal can be challenging due to the country's infrastructure limitations and its relative isolation from global markets. Nepal also ranks poorly in the World Bank's Doing Business report, which measures the ease of doing business in a country. Some of the specific challenges doing business in Nepal include:
- Difficulty accessing financial services
- Lack of adequate infrastructure
- Bureaucratic red tape
- Difficulty importing and exporting goods
- Perception of corruption
How is the economy in Nepal?
The economy in Nepal is underdeveloped and typically agrarian. The country is landlocked and has few natural resources, and its economic infrastructure is poor. Tourist arrivals have been declining in recent years. Nepal’s GDP per capita is $1,291 (2018), ranked 157 out of 188 countries. Nepal’s unemployment rate was 3.5% in 2016.
Managing your finances in Nepal
Here we list some key points for expats and businesses to consider when managing financial dealings in Nepal:
Understand Nepalese rupee currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the NPR exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Nepalese rupee bank account: A local NPR bank account can make it easier for you to manage your finances and pay bills while you are in Nepal. It may also be more convenient to use a local NPR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Nepal. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Nepal. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Nepal, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
