KATHMANDU: Nepalis stand to lose millions of dollars held in high-value Indian bank notes that New Delhi banned last year and has yet to exchange, a central bank official said on Tuesday.
Prime Minister Narendra Modi in November banned 500 rupee ($7.
77) and 1,000 rupee bank notes as part of a drive against unaccounted wealth in India that has also hit its Himalayan neighbour where Indian rupees are widely used.
People holding the notes in India were given a little less than two months to exchange them at banks.
In March, officials from the Reserve Bank of India (RBI) visited Nepal and promised to allow every Nepali citizen to exchange 4,500 Indian rupees ($70) worth of the old notes for new ones.
Reuters
