| FOREIGN
CURRENCY AND CREDIT CARDS
Payment in hotels, travel agencies, and airlines are made in foreign
exchange. Credit cards like American Express, Master and Visa are
widely accepted at major hotels, shops, and restaurants. Remember
to keep your Foreign Exchange Encashment Receipt while making foreign
exchange payments or transferring foreign currency into Nepalese
rupees. The receipts may be needed to change left-over Nepalese
Rupees into hard currency before leaving the country. However, only
10 percent of the total amount may be converted by the bank.
Major
banks, hotels, and the exchange counters at Tribhuvan Airport provide
services for exchanging foreign currency. US dollar travellers checks
can be purchased from American Express at Durbar Marg and other
major banks in Kathmandu. Banks in Kathmandu are open 10 am to 330
p.m. Sunday through Friday. Nepal Bank Ltd. on New Road (tel 221185)
is open 7 am to 7 pm all days of the week. The Kantipath branch
(tel 227375) is open 9 am to 5 pm Monday through Friday, 9 am to
1 pm on Saturday, and closed on Sunday. Rastriya Banijya Bank exchange
counter at Bishal Bazaar (tel 228335) is open 10 am to 3 pm daily
except holidays.
Nepal
Bangladesh Bank at Ramshah Path (tel 419297) is open 10 am to 3
pm, and its branch at New Road (tel 217541) is open till 7 pm. Nepal
Grindlays Bank branch at Thamel (tel 233128) is open 10 am to 415
pm for credit card services. Counters of Himalayan Bank at Thamel
(tel 227749) and Bishal Bazaar (tel 224787) are open 8 am to 8 pm,
closed on Saturdays. Other banks are Nepal Arab Bank, Kantipath
(tel 227181); Nepal SBI Bank, Durbar Marg (tel 225326); Everest
Bank, New Baneswar (tel 214878); Nepal Indosuez Bank, Durbar Marg
(tel 228229); Nepal Sri Lanka Merchant Bank, Bagh Bazaar (tel 227555)
and the Bank of Kathmandu, Kamaladi (tel 418068). The counters of
licensed money changers are open 12 hours a day.
Exchange
rates are published in English dailies such as The Rising Nepal
and The Kathmandu Post. Nepalese Rupees are found in denominations
of 1000, 500, 100, 50, 20, 10, 5, 2 and 1. Coins are found in denominations
of 10, 25 and 50 paisa. One rupee equals 100 paisa.
Approximate
exchange rate as of April 2001 US$ 1 = Rs. 75.10
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