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The Nepal government has decided to ban Indian currency above Rs 100, according to a report published in Kathmandu Post. According to the report, the government has asked Nepal citizens to refrain from keeping new Indian note of Rs 2,000, Rs 500 and Rs 200 denominations. The government has asked the people to refrain from keeping or carrying Indian bankNSE -0.54 % notes higher than Rs 100 denomination as it has not legalized the higher denomination notes, The Kathmandu Post quoted Nepal Minister for Information and Communications Gokul Prasad Baskota as saying.
The move can affect the Indian tourist and Nepali people working in India, who carry the currency in Nepal for transaction.
Indian had introduced the new notes of Rs 2,000, Rs 500 and Rs 200 denominations after demonetization in 2016. The Nepal government has not notified legalization of new Indian notes.
As per some reports, billions of banned Indian notes of Rs 500 and Rs 1,000 denominations were affected by demonetization in India.
