Wednesday Feb 1, 2023
Wednesday Feb 1, 2023

NRB removes cash margin in import


Nepalnews
2023 Jan 19, 17:27, Kathmandu

The cash margin in imports has been removed. The Nepal Rastra Bank had arranged for a cash margin of 50 to 100 percent on Letters of Credit For Import (LC) for a year to tighten the import after the foreign exchange reserve crisis raised in Dhukuti.

On Thursday, issuing a consolidated circular, the bank said that all types of cash margin arrangements have been removed. Now businessmen do not have to keep any kind of cash margin for imports. Last month, the bank removed the provision of cash margin on the import of construction materials.

Recently, the private sector has been opposing the system implemented. The International Monetary Fund also expressed interest in the policy of import restriction adopted by Nepal. 

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cash margin Nepal Rastra Bank Letters of Credit For Import foreign exchange International Monetary Fund import
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