Image credit: neiljs
Nepali Rupee (NPR) is the official currency in Nepal. One rupee is equivalent to 100 paisa. Banknotes are issued in 5, 10, 20, 50, 100, 500, and 1000 NPR bills. Coins are available in 1, 2, 5, and 10 NPR, but the 5 and 10 NPR coins are rarely used.
Like the way it is in many Asian cities, money changers are the best places to buy local currency in Kathmandu – best in the exchange rates and in the accessibility. They are favored by visitors that prefer bringing cash along than withdrawing local Rupees from ATMs to avoid cross-country transaction charges.
Find those government-certified money changers on Thamel Marg street, Chaksibari Marg street, and near Durbar Square. They, not all but most of them, accept all major currencies and serve customers 7 days a week, so no need to rush for the service on weekdays.
Read on to know more about the top recommended money changers in Kathmandu.
Image credit: Chky Yo
Thamel District, the top tourist neighborhood in Kathmandu, is where travelers (mostly mountaineers) gather and prepare for their Himalayan adventures. As the result, hotels, restaurants, and shops line Thamel Marg, the main street of the area, to cater for various interests and needs.
Money changers also call Thamel Marg home, offering service everyday of the week, usually from 8AM to 8PM. They are located in close proximity to one another so you can easily drop by a few to look for the most favorable rates if you find it necessary to do so. Most major currencies are accepted in this area.
RECOMMENDED MONEY CHANGERS
1) Annapurna Money Exchange
2) Laxmi Money Exchange
3) North Point Money Exchange
4) Lotus Money Exchange
5) Eco Money Exchange
6) Dolphin Money Exchange
7) Alpine Money Exchange
*Opening hours may vary. Call first before visiting.
Image credit: Chky Yo
Chaksibari Marg, a street parallel to Thamel Marg, is another place in Thamel to check out for money changers with good rates. Those forex shops sit close to one another and are even in walking distance from their counterparts on Thamel Marg.
RECOMMENDED MONEY CHANGERS
1) East & West Money Exchange
2) A One Money Changer
3) Kanchanjungha Money Exchange
4) Himalaya Money Exchange
5) Universal Money Exchange
Image credit: Esmar Abdul Hamid
Aside from Thamel Marg and Chaksibari Marg, the streets surrounding Durbar Square, a UNESCO World Heritage Site, are also home to reliable money changers. Those whose accommodation is near to this most popular attraction of Nepal should check out the forex shops on Freak Street, Sukra Path, and Dharma Path.
RECOMMENDED MONEY CHANGERS
1) Basantapur Money Exchange
2) Continental Money Exchange
3) NBL Satahi
Banks are the closest alternative to forex shops when it comes to buying Nepali Rupees in Kathmandu, though their rates are always lower. Those prefer bank’s service can find branches of the top Nepal’s banks near major tourist sites of Kathmandu.
Note that banking hours are limited and transactions may take longer time. Don’t forget to bring your passport or other IDs for a successful transaction.
RECOMMENDED BANK BRANCHES
1) Himalayan Bank @ Thamel branch
2) Everest Bank @ Thamel branch
3) Siddhartha Bank @ Thamel branch
4) Nepal Investment Bank @ Kathmandu Durbar Square branch
5) SBI Bank @ Pashupatinath branch