Nepal Govt Has Decided To Ban Indian Currency Notes Above Rs 100

Highlights:

  • The Nepal government has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations, a move that could affect Indian tourists visiting the Himalayan nation where Indian currency is widely used.
  • Indian currency is extensively used by Nepalese people and businesses for their savings and transactions.
  • The decision will adversely affect Nepalese labourers working in India as well as Indian tourists visiting Nepal. India is Nepal's largest trade partner and supplies the majority of its consumer goods.
  • However, the move hit countries such as Nepal and Bhutan where Indian currency is widely used. 
  • People have been using the new Indian currency in Nepal for nearly two years now.
Nepal Govt Has Decided To Ban Indian Currency Notes Above Rs 100 Nepal Govt Has Decided To Ban Indian Currency Notes Above Rs 100 Reviewed by The Hindu Current Affairs on December 15, 2018 Rating: 5

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