Best place to exchange money in Kathmandu
by Jayaram Thapaliya · Updated August 29, 2023
When you enter Nepal, you can pay for the visa fees in dollars. However, for other expenses during your stay in Nepal, you will need Nepali Rupees (Local Currency). This is because it is easier to pay in the local currency, and your currency might not be accepted in most places in Nepal. Especially if you’re planning to trek in Nepal, you have to go with Nepali Currency. To convert your currency to Nepali Rupees with high rate, you have to find out the Best place to exchange money in Kathmandu.
Exchanging your money for Nepali Rupees is essential for any travellers visiting Nepal. You might be wondering which currency you should carry with you and where to get the best exchange rate in Thamel, Kathmandu. Well, after reading this article, you will have an idea of the best way to convert your currency to Nepali Rupees.
Local Currency and Currency Denomination
The Nepali Rupee is the local currency of Nepal and is available in denominations of RS 1, Rs 5, Rs 10, Rs 20, Rs 25, Rs 50, Rs 100, Rs 500, and Rs 1000. Therefore, we have a minimum of 1 NPR and a maximum of 1000 NPR. In Nepal, we don’t have 2000 Rupee notes like in India.
Regarding coin currency, we have 1, 2, 5, 10, 20, 25, and 50 Paisa. Paisa is a small unit of Rupee where 100 Paisa is equivalent to 1 Rupee.
Exchange Rate
The exchange rate varies from day to day. Every day, the Nepal Rastra Bank (Central Bank of Nepal) announces the daily exchange rate. For the daily rate, please visit this website: https://www.nrb.org.np/forex/.
Best place to exchange money in Kathmandu
Over the years, several money exchange offices have been established in Thamel. As a result, there is high competition among the MONEY EXCHANGE OFFICE, and that’s where you are most likely to get the best rates. Currently, I use the East-West Money Exchange Office, which is located in the shopping complex just to the north of, and on the same side of the road as The Kathmandu Guesthouse.
Banks often offer a better rate, but they may also charge a commission. Money changers slightly offer a better deal.
Jayaram Thapaliya, an executive director at BASE CAMP HIKE. He has trekked to mostly places in Nepal. He has been to Annapurna Circuit more than 10 times. Jayaram is the one who is ready to help you to make wonderful trip in Nepal.
