Daily gold import limit raised to 20 kg in Nepal

KATHMANDU: In a significant move, the Nepal Rastra Bank (NRB) has officially increased the daily limit for gold imports to 20 kg. This adjustment comes as the NRB amended the ‘Integrated Circular-2079’ today, superseding the previous provision that allowed for a maximum daily gold import of 10 kg.

This revision follows a decision made in mid-February 2022, prompted by mounting pressure on foreign exchange reserves, when the NRB had initially reduced the daily gold import quota from 20 kg to 10 kg.

The decision to augment the daily gold import limit to 20 kg is a response to persistent calls from gold and silver traders to expand the import quota. This development is expected to have a notable impact on the country’s gold trade and market dynamics.