Xinhua, Kathmandu :
Nepal’s central bank has decided to import 10 million U.S. dollar in cash from Singapore to address acute shortage of physical form of U.S. dollar in the market.
Amid increasing number of Nepalis going abroad in the recent years, there is growing demand for cash dollar in the market, according to Nepalese commercial banks.
However, as the main source of the greenback, foreign tourists have been using the cards for payments, there has been shortage of U.S. dollar in physical form in the market.
“A meeting of the central bank’s management committee headed by Governor Chiranjibi Nepal decided to bring cash U.S. dollar from Singapore this week,” said Chintamani Siwakoti, deputy governor of Nepal Rastra Bank (NRB), central bank of the Himalayan country.
Nepal’s central bank has decided to import 10 million U.S. dollar in cash from Singapore to address acute shortage of physical form of U.S. dollar in the market.
Amid increasing number of Nepalis going abroad in the recent years, there is growing demand for cash dollar in the market, according to Nepalese commercial banks.
However, as the main source of the greenback, foreign tourists have been using the cards for payments, there has been shortage of U.S. dollar in physical form in the market.
“A meeting of the central bank’s management committee headed by Governor Chiranjibi Nepal decided to bring cash U.S. dollar from Singapore this week,” said Chintamani Siwakoti, deputy governor of Nepal Rastra Bank (NRB), central bank of the Himalayan country.
