Money and Banking in Nepal, Tibet & Bhutan?

Money, Bank and ATM

Currency

• Nepal: The official currency is the Nepalese Rupee (NPR). Banknotes are available in denominations of 1, 2, 5, 10, 20, 25, 50, 100, 500, and 1000 rupees. While 1 and 2 rupee coins are less common, they are still in circulation. Banknotes feature English numerals on one side, and the different values are distinguished by distinctive colors, making them easy to recognize.

• Tibet: The currency used is the Chinese Yuan (CNY), also referred to as Renminbi (RMB). The denominations include 0.1, 0.2, 0.5 RMB bills (or 1, 2, and 5 Mao) as well as 1, 2, 5, 10, 20, 50, and 100 RMB bills.

• Bhutan: Bhutan's official currency is the Ngultrum (NU). The currency is available in cotton notes of Nu 1, Nu 10, Nu 20, Nu 50, Nu 100, Nu 500, and Nu 1000.

Banks

Banking hours typically run from Monday to Friday, 10 AM to 3 PM. In larger cities of Nepal, Tibet, and Bhutan, some banks offer evening counters open until 6-7 PM. In Nepal, Saturday is a public holiday, but some banks may still open briefly to accept deposits. Larger cities have a wide range of bank branches, ensuring easy access for tourists to handle financial transactions.

ATMs

ATMs are commonly available in major cities across Nepal, Tibet, and Bhutan. However, they are less frequent in smaller towns or rural areas. Most international credit cards such as Visa, MasterCard, and UnionPay can be used to withdraw money in the local currency. Note that ATMs may charge a fee for withdrawals, and foreign-issued cards may be subject to extra charges.

Credit cards are widely accepted in urban areas, including hotels, restaurants, and shops, though a surcharge of up to 4% may be added to the transaction.

Currency Exchange

• Nepal: Currency exchange centers are abundant in major cities, where foreign currencies like USD, GBP, and EUR can be easily exchanged for Nepalese Rupees (NPR).

• Tibet & Bhutan: Currency exchange is available at international airports and local banks. While exchanges are not as widespread as in Nepal, tourists can manage their financial needs easily at the major entry points.

Key Points to Keep in Mind:

• For tours in Nepal, Tibet, and Bhutan, it is essential to carry local currency for smooth transactions, as cash payments are still the norm.
• Although major international credit cards are accepted in larger establishments, local currency is still preferred for smaller transactions.
• Travelers should be aware of the ATM limitations in rural areas and be prepared for foreign card surcharges.

This brief guide should help you navigate money, banking, and ATM access while traveling through these fascinating countries.