Major FAQ-Nepal
Money Matter
What is the exchange rate? Where should I change my dollars? Can I use my debit card or credit card? Should I bring traveler's checks?
Find the Exchange Rate of Nepal Rupee (INR) http://www.xe.com/ucc/
The local currency is the Nepal Rupee. You can change your money upon arrival to Kathmandu's Tribhuvan International Airport . There is one bank counter at the departure lounge and three bank counters at the arrival lounge. All transactions are done on the basis of the declared amount by the passenger and the currencies permitted by the government based on the day's foreign exchange rate. We suggest you change $200 in the beginning as you can change money in any bank (some banks are near to our office).
Your credit card information can be stolen and used fraudulently just by making a credit card payment. For this reason, cash and travelers checks are suggested to settle most accounts. You will have trouble paying with traveler's checks, but you will be able to exchange them at local banks. Traveler's checks are recommended as a safe way to carry money with you, make sure you write down the check numbers and contact information you need to cancel stolen checks. Different brands of traveler's checks work better in different countries so consult your local financial institution about which company you should buy your checks from.
Travelers should have a credit card for large and emergency purchases so you won't go broke if something goes wrong. If you've requested a pin number for your credit card, you can use it to get cash advances at the ATM.
You can also carry a debit card that can be used at ATM's to withdraw local currency. When using ATM's be advised to bring a friend along, travel directly from the bank back to your home and stash your cash. Find a private, well disguised place to hide any cash. When you are carrying cash, break it up into different amounts and keep it in different pockets so if you get robbed you won't lose everything.
Debit card is the best way of getting money and ATM vendors are available in major bank and department store in Kathmandu . Visa, MasterCard and American Express are accepted in some of the large stores and hotels in larger cities but not accepted in smaller cities.
How much money you bring depends on your personal spending habits. Thrifty people can get by on less than $10/day. Your budget should also include money to explore Nepal in free time as well as for your personal use. A good rule of thumb for money management is the 1/3 method, bring 1/3 cash, 1/3 traveler's check and leave 1/3 of your money in your account - plus a credit card for emergencies.
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