Mode of Payments
Payment in hotels, travel agencies, and airlines are made in foreign exchange. Credit cards like American Express, Master and Visa are 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 Nepali rupees. The receipts may be needed to change left-over Nepali currency into hard currency before leaving the country. However, only 10 percent of the total amount may be converted by the bank.
Foreign currency, and traveler cheques, can easily be exchanged at banks or authorized agents. In Kathmandu banks have money exchange counters, which are quick and convenient.
Banks are open between 10:00 A.M. to 2:30 p.m., Sunday to Thursdays and between 1 0:00 a.m. to 12:30 p.m. on Fridays. Closed on Saturdays and national holidays. Some Banks in Thamel, Kathmandu are open till late. ATM is widely in use in Kathmandu (24/7).
Major Banks, hotels and exchange counters at Tribhuvan International Airport provide services for exchanging foreign currency. Exchange rates are published in English dailies such as The Rising Nepal, The Kathmandu Post and The Himalayan Times.
Nepali currency notes are found in denominations of Rupees 1000, 500, 100, 50, 20, 10, 5, 2 and 1. Coins are found in denominations of Rupees 5, 2 and 1. One rupee equals 100 paisa.
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