Banking and Money for Business Travelers in Nepal

Overview

Nepal's official currency is the Nepalese Rupee (NPR), pegged to the Indian Rupee at a fixed rate of 1.6 NPR per INR. USD, EUR, and GBP are widely accepted for exchange and are the easiest foreign currencies to convert. ATMs from major banks including Nabil Bank, Himalayan Bank, and Nepal Investment Bank are available throughout Kathmandu and accept Visa and Mastercard. International transaction fees apply, so notify your bank of your travel dates before departure. For business expenses, most hotels and mid-to-high-end restaurants accept credit cards, but smaller vendors and taxis typically prefer cash. Digital payment through mobile banking apps (eSewa, Khalti, IME Pay) is widely used domestically but requires a local bank account for business-level use.

FAQ

Q: Can I wire money from abroad to a Nepali business account for project expenses?

Yes, international wire transfers are supported through most Nepali commercial banks. The recipient bank typically processes incoming transfers within two to five business days. SWIFT codes are available for all major Nepali banks. Currency must be converted to NPR before it can be withdrawn domestically, so account for exchange rate fluctuations in your budget.

Q: Are there restrictions on how much foreign currency I can bring into Nepal?

Foreign nationals may bring up to USD 5,000 equivalent in cash without declaration. Amounts above this must be declared at customs on arrival. For business travel with large expense budgets, it is generally safer and more practical to use an international debit card and withdraw NPR from ATMs as needed.