The Nepal Rastra Bank has increased the foreign exchange facility for students going abroad for studies. In the amended circular 2079 issued to the concerned agencies for conducting foreign exchange business, the central bank has increased the foreign exchange facility.
Along with this, students from European countries such as Canada, Australia, and the United States will be able to receive up to 12,000 US dollars for higher education studies. Previously, Nepali students going abroad for studies were only receiving foreign exchange facilities of up to 10,000 US dollars.
Similarly, the central bank has also informed us that the maximum limit of the foreign exchange facility, which can be provided in other convertible foreign currencies, including the US dollar, is 1,500 US dollars or equivalent.
However, if the concerned diplomatic mission or authorized agencies are authorized to collect visa application fees in foreign currency (including electronic means), the foreign exchange facility will be provided up to the maximum limit of 1,500 US dollars, as mentioned, without any restrictions.