Nepal Bans Indian Bills Above Rs. 100 Denomination
The government has asked people to refrain from carrying Indian currency notes above Rs. 100 as currency notes above this denomination is not legal.
The Nepal government has banned the use of Indian currency notes of Rs. 200, Rs. 500 and Rs. 2000 denominations, according to a media report.
According to a report in Kathmandu Times, the government has asked people to stop carrying Indian bank notes above Rs 100 denomination as it has not legalized them.
Indian currency notes are legal tenders in Nepal and neighboring Bhutan and the currency notes of these two countries are pegged to the Indian rupee.
The decision can affect Nepalese laborers working in India as well as Indian tourists to Nepal. The Indian government introduced notes of Rs. 200, Rs. 500 and Rs. 2000 denominations after demonetization in Nov. 2016.
People in Nepal have been using new Indian currency notes in the local markets for nearly two years.