Nepal Rastra Bank (NRB) has raised the daily gold import quota from 20 kilograms to 25 kilograms. Commercial banks can now import up to 25 kg of gold per day, which will then be purchased by traders and sold to the public as jewelry.
The central bank said it decided to increase the quota in response to rising market demand and soaring gold prices. With Tihar approaching, demand for gold is expected to surge further. As of Friday, the price of gold stood at NPR 235,000 per tola, the highest so far.
Similarly, NRB has also increased the limit for remittance inflow from NPR 2 million to NPR 2.5 million per day. Nepali citizens and registered firms in Nepal can now deposit up to NPR 2.5 million daily in their bank accounts from funds received from abroad.
Remittance companies are required to verify customer identification documents when collecting or paying out funds and must submit monthly remittance reports to the concerned department within seven days.
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