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Nepal and India agree to circulate 1,000 & 500 rupee notes in Nepal
Dec 25, 2013

Nepal and India have agreed in principle to allow circulation of Rs.500 and Rs.1,000 denomination Indian bank notes within Nepalese territory, ending a ban in place for over a decade. Indian bank notes above Rs.100 were banned in Nepal as per India's request to curb unauthorised trade between the two neighbours. 

The two sides allowed to carry Rs.500 and Rs.1,000 notes up to Rs.25,000. 

The new arrangement will mainly benefit Indian tourists travelling to Nepal.  


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