KATHMANDU, Oct 10 : Nepal Rastra Bank (NRB) has increased the daily gold import quota from 20 kilograms to 25 kilograms in response to rising market demand. Commercial banks, which previously imported 20 kilograms per day, will now be allowed to import 25 kilograms.
The decision comes amid a surge in gold prices and growing investor interest, driven by both domestic demand and global political and economic uncertainty. The rise in gold prices has led many investors to consider it a safer investment option, especially ahead of the festive season.
Government waits before raising gold import quota
According to the Nepal Bankers’ Association, Sanima Bank imported 50 kilograms of gold on Wednesday, while Laxmi Sunrise Bank is set to import the same amount on Friday.
Gold prices have continued to rise, reaching Rs 235,000 per tola on Friday. With festivals like Tihar approaching, demand is expected to increase further, prompting the central bank to expand the import quota.
Additionally, NRB has raised the upper limit for non-repatriable remittance inflows from Rs 2 million to Rs 2.5 million per day. This change allows Nepali or foreign nationals, as well as Nepal-registered firms, to transfer up to Rs 2.5 million daily into Nepal via remittance companies for purposes such as property sales, commissions, or service fees.
The central bank has instructed remittance companies to verify customer identification documents during such transactions. It also requires companies to report remittance inflows to the concerned departments within seven days of the end of each month.
