NRB removes dollar exchange ceiling to ease oxygen cylinder import

File image: Nepal Rastra Bank (NRB)
File image: Nepal Rastra Bank (NRB)

Kathmandu, May 13

The Nepal Rastra Bank has removed a ceiling it has been imposing on the exchange of foreign currencies in its bid to ease the import of oxygen cylinders and other medical essentials required for the country to defeat the Covid-19 crisis.

As per the current rule, a company/individual can exchange up to USD 35,000 once for import purpose. However, if a transaction is being made for the import of oxygen cylinders, tanks, generators or other related products, the ceiling will not apply until mid-July, informs the NRB Deputy Governor Bam Bahadur Mishra.

The central bank says it made the decision as the country is currently facing an acute shortage of oxygen and it is killing dozens of Covid-19 patients every day.

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