Nepalese Rupees: Your Guide to Exchanging and Finding Currency in Nepal

- Magnificent Himalayan Treks

Traveling to Nepal, the land of breathtaking Himalayas, ancient temples, and rich culture, is an unforgettable experience. But before you start on your journey, understanding the local currency - the Nepalese Rupee (NPR) - is crucial. This blog post will guide you through everything you need to know about exchanging and finding NPR, ensuring a smooth and hassle-free travel experience.

What currency is used in Nepal?

Nepal's official currency is the Nepalese Rupee, shortened as Rs or NPR. Introduced in 1932, it replaced the silver Mohar. Throughout its history, Nepal has utilized various metal coins. The Nepalese Rupee is further subdivided into 100 paisa, although coins are less common nowadays. The Nepal Rastra Bank, the country's central bank, is responsible for issuing and managing the Rupee.

Understanding the Nepalese Rupee

The Nepalese Rupee is denoted by the symbol ₨ and comes in denominations of 5, 10, 20, 50, 100, 500, and 1000. Coins are available in denominations of 1, 5, 10, and 25 rupees but mostly, notes are used. NPR is pegged to the Indian Rupee (INR) at a fixed exchange rate of 1 NPR = 1.6 INR. However, the exchange rate for foreign currencies like USD, EUR, and GBP fluctuates based on market conditions.

Best Destination for Currency Exchange: Nepalese Rupee

Exchanging your currency for NPR is readily available in Nepal. Here are your options:

Airports: Upon arrival at Tribhuvan International Airport in Kathmandu, currency exchange booths are conveniently located in the arrival hall. These offer competitive rates but might have slightly lower cash limits compared to banks.
Banks and Money Changers: Major cities like Kathmandu, Pokhara, and Chitwan have numerous banks and authorized money changers offering currency exchange services. Compare rates and choose the one with the most favorable deal.
Hotels and Travel Agencies: Most hotels and travel agencies also provide currency exchange services, though the rates might be slightly less competitive than banks.

Tips for Getting the Best Exchange Nepal Rupee Rates

Avoid exchanging currency at the airport: Airport exchange booths often have lower rates than banks or money changers.
Compare rates before exchanging: Don't just accept the first rate you see. Shop around and compare rates at different banks and money changers to get the best deal.
Bring large bills: Exchanging larger denominations of your home currency generally offers better rates.
Consider using ATMs: Using ATMs to withdraw NPR directly from your bank account can be a convenient option, especially in major cities. However, be aware of transaction fees charged by both your bank and the ATM operator.

How Do You Get Nepalese Rupee During Your Trip

ATMs are widely available in major cities and tourist towns throughout Nepal. Visa and Mastercard are generally accepted, but it's always advisable to carry some cash as some smaller shops and rural areas might not have ATM access.

Credit cards are accepted in larger hotels, restaurants, and shops in tourist areas. However, smaller establishments might not have card payment facilities. Carrying cash is recommended for unforeseen expenses and purchases in local markets.

Remember to keep your exchange receipts as you might need them when exchanging leftover NPR back to your home currency at the end of your trip.

Additional Information

Bargaining is common in local markets and smaller shops. Having NPR handy will allow you to participate in this cultural practice and potentially get better deals.
Tipping is not expected in Nepal, but if you wish to show appreciation for good service, a small amount of NPR is appropriate.

By understanding the Nepalese Rupee, where to exchange your currency, and how to find NPR during your trip, you can ensure a smooth and financially secure experience in Nepal. Remember to plan ahead, compare rates, and carry some cash for your convenience. With this knowledge, you're all set to focus on exploring the wonders of Nepal and creating lasting memories.