Nepal's central bank, Nepal Rastra Bank (NRB), has barred commercial banks from issuing letters of credit for the import of luxury items citing an impending crisis in the national economy.
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Nepal Rastra Bank (NRB) is moving to reverse a fast-depleting foreign exchange reserve by discouraging the import of non-essential goods and helping enterprises to borrow from abroad.
Nepal Rastra Bank (NRB) is moving to reverse a fast-depleting foreign exchange reserve by discouraging the import of non-essential goods and helping enterprises to borrow from abroad.
The Nepal Rastra Bank has removed a ceiling it has been imposing on the exchange of foreign currencies in its bid to ease the import of oxygen cylinders and other medical essentials required for the country to defeat the Covid-19 crisis.
