Nepal ban India’s new high-currency notes

In a big blow to Nepalese workers working in India and Indians visiting Nepal, the Nepal government today prohibited the usage of Indian currency of the denominations – Rs 2,000, Rs 500 and Rs 200.

 

The decision which was declared at the last cabinet meeting by Minister of Information Gokul Baskota is bound to affect Nepalese labourers working in India, and a large section of middle and low-income Indian tourists who travel to Nepal on an annual basis.

 

Nepalese government has asked the people to refrain from keeping or carrying Indian bank notes higher than Rs 100 denomination as it has not legalised them. The decision was made in view of the ‘Visit Nepal Year’, a 2020 celebration that is estimated to drive in at least 2 million people to Nepal, with a majority of them from India.

 

Following demonetisation in 2016, the Indian government introduced the new denominations. During that time, an announcement regarding the status of the new notes was not made by the Nepal government. However, people in Nepal are freely using these new currency for the last two years.

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