Understanding the currency of a new country can be confusing. We have prepared a handy guide for you to better comprehend the Nepali Rupees. Unravel the mysteries of the best exchange rates, payment methods, and more before your trip to Nepal in 2024-2025.
Nepali Rupees: The Nepali Currency
Nepal’s official currency is the Nepali Rupees. Its denotation is “Rs.” You can find bank notes of Rs. 1, 2, 5, 10, 20, 50, 100, 500, and 1000. Coins of Rs. 1, 2, 5, and 10 can also be found. However, with the advancement of the digital age, most businesses accept digital payment.
Where to Exchange Nepali Rupees
There are several options for exchanging your country’s currency for Nepali Rupees. We have listed them below:
Airport Currency Exchange
You will find round-the-clock currency exchange counters at the Tribhuvan International Airport in Kathmandu. You may find the airport rates lower than the standard exchange rates.
Banks
Authorized banks, all over Nepal, provide currency exchange services. The rates are typically better than the airport. However, banks are usually open between 10:00 AM and 5:00 PM on weekdays and close on public holidays.
Money Exchange
Money exchange authorized by the government provides money exchange facilities. Confirm the rates as they may vary from the standard rates.
Hotels
You can use hotels as the last resort for money exchange. The rates are typically less than banks and authorized money exchanges.
Things to Consider when Exchanging Currency
Exchange Rate: Exchange rates change, so confirm the day’s rates in advance. You can use online currency conversion tools.
Fees: Your service providers may charge service fees. Banks typically charge less than authorized money changers or airports.
Denominations: Ask for mixed denominations. Smaller bills can be useful for everyday purchases, while bigger ones can be used for bigger purchases.
Receipts: Keep your money exchange receipt safe. You may need them to convert your leftover Nepali Rupees back to your home currency at the end of your trip.
Cash Alternatives in Nepal
Cash is mainly used for transactions in Nepal. However, many stores, especially in urban cities, accept cards, ATMs, and online payment.
Credit Card
Most shops and restaurants in Nepal don’t accept credit cards. However, there are higher chances of establishments with a VISA or Mastercard logo accepting international credit cards.
ATM
You can find ATMs in major cities, but they can be scarce in remote areas. It is advisable to inform your bank about your travel plans to avoid card blocking.
Fees
ATM withdrawal fees and international transactions can be reasonably high.
Nepal is a fairly inexpensive country to travel in. However, the prices can go up depending on the level of luxury you choose. Below is a rough breakdown of your budget for 2024 - 2025:
- Budget Travel: Rs 1,500 - 2,000 per day
- Mid-Range Travel: Rs 2,500 - 3,500 per day
- Luxury Travel: Rs 5,000+ per day