Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: In a move aimed at easing pressure in the domestic gold market, the Nepal Rastra Bank (NRB) has increased the daily gold import quota from 20 kilograms to 25 kilograms.
Issuing a circular on Friday to authorized banks and financial institutions permitted to import gold, the central bank announced that the revised quota will be effective immediately.
“The daily quantity of gold that can be imported has been maintained at 25 kilograms for now,” the NRB stated in the amended provision. This marks a 25 percent rise in the daily import limit, a step expected to stabilize the supply amid rising demand and escalating market prices.
The decision follows growing complaints from jewelers and traders over an artificial shortage of gold in recent weeks, which pushed prices to record highs and disrupted regular trade in major markets like New Road and Asan in Kathmandu.
Gold traders had been urging the central bank to lift the import ceiling, citing strong demand ahead of the festive season and growing investment in precious metals.
Officials at NRB said the revision was made to maintain market balance, ensure price stability, and prevent illegal imports through the black market.
Market analysts believe the move will provide temporary relief but warn that sustained demand could again strain supply unless global prices and foreign reserves remain stable.
Nepal’s gold import is closely linked to its foreign exchange reserves and balance of payments, as gold is one of the major import commodities after petroleum products. With rising domestic consumption, the NRB is balancing between controlling foreign currency outflow and addressing market shortages.
According to traders, the market price of fine gold recently surged above Rs 150,000 per tola, prompting the NRB to act.
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