NIC Asia im­ports $1 mil­lion for Nepali mar­ket

People's Review - - NEWS -

With the per­mis­sion from Nepal Ras­tra Bank, NIC Asia Bank has im­ported USD 1 mil­lion in the Nepali mar­ket. The bank im­ported the dol­lars be­cause the Nepali mar­ket is cur­rently not be­ing able to meet the de­mand of US dol­lar. Pre­vi­ously, NRB was the only bank which used to im­port USD. How­ever, seven months ago, it had given per­mis­sion to com­mer­cial banks to im­port dol­lars. “NIC Asia has im­ported dol­lars for the first time,” said Lax­man Risal, CEO of NIC Asia Bank. The sup­ply of USD was min­i­mum and this was cre­at­ing prob­lem for many cus­tomers. There­fore, NRB had given per­mis­sion to all A-grade banks to im­port dol­lars. Ac­cord­ing to Roshan Ku­mar Ne­u­pane, chief in­for­ma­tion of­fi­cer of NIC Asia Bank, the im­ported USD will be avail­able at all of its 32 branch of­fices in the val­ley and also in places out­side the val­ley in­clud­ing Bi­rat­na­gar, Bir­gunj, Dha­ran, Pokhara, Nepal­gunj, Narayan­gadh and But­wal. NIC Asia Bank has been pro­vid­ing the for­eign ex­change fa­cil­ity to its cus­tomers through visa in­ter­na­tional debit card. The cur­rent rules of NRB al­low Nepali cit­i­zens who are go­ing abroad to ex­change up to USD 2500.

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