|
Money Money Money....MONEY!
|
PDF
|
| Print |
|
E-mail
|
|
Monday, 18 May 2009 |
Where to exchange money???
You just arrived in Kathmandu and you have a wad of foreign currency that you are not exactly sure what to do with it. Below are listed some helpful tips and things to know when you change your foreign currency to Nepali Rupees.
1. Yes there are ATM’s in Kathmandu and yes, you are able to withdraw cash from them. Depending upon your bank, your foreign service charge will vary depending upon your home bank and what Nepali bank you withdraw rupees from. If at all possible bring a visa debit or credit card. MasterCard is not accepted at some ATM machines and can cause some unnecessary headaches. All banks use a standard exchange rate. This rate is typically visible in the bank itself and if you can’t see it then just ask a bank attendant. In the English daily newspapers the exchange rate is published, either in the business section or on the front page. It is important to call you bank before you leave and tell them you are going to abroad. If you do not do this banks have been known to cancel cards due to the suspicion of theft.
2. When you want to exchange hard currency you can go to one of the many money exchange shops. The will not charge you outright for their service, but they decrease the standard exchange rate by a few rupees to make a profit. Most of the shops will have a no commission sign posted. The money exchange places located in Thamel will have a higher profit margin compared to those exchange shops located in the surrounding areas such as Lazimpat or Darburg Marg. Let’s say the paper says that one-dollar is equivalent to 79.05 Nepali rupees. Most if not all of the shops will set the exchange rate no higher then 77 Nepali rupees for one dollar. This is why they say they have no commission.
3. Most if not all shops DO NOT take credit card. The majority of the transactions will be conducted in cash. If you go trekking or leave the major tourist places (Chitwan, Pokhara, Kathmandu) ATM’s are extremely scarce. If you know you are leaving the valley it is a good idea to take a substantial amount of money with you, just make sure to keep it in a safe place. |
|
Last Updated ( Monday, 18 May 2009 )
|
