KATHMANDU: Nepal Rastra Bank (NRB) has expanded the daily gold import quota from 10 kg to 20 kg, a move aimed at facilitating the gold trade in the country.
Previously, importers were allowed to bring in up to 10 kg of gold per day. However, in a recent announcement, the NRB has decided to double this limit to 20 kg.
Importantly, the NRB has also emphasized that gold not imported on a daily basis within a given month cannot be carried over to the following month. This means that any unused import capacity in a particular month cannot be accumulated or transferred to subsequent months.
At a time when the gold smuggling issue has heated the political and social arena, the NRB decision is likely to have a positive impact on the gold market.