Nepal Breaking NewsBusinessNepal Rastra Bank removes dollar exchange ceiling to make oxygen cylinder import...

Nepal Rastra Bank removes dollar exchange ceiling to make oxygen cylinder import easier

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The Rastra Bank has lifted a foreign currency exchange in order to facilitate the import of oxygen and other medical supplies required to help the country overcome the -19 crisis.

A or entity exchange up to USD 35,000 for import purposes under current rules. The ceiling will not apply until mid-July if a transaction is for the import of oxygen cylinders, tanks, generators, or other related goods, according to NRB Deputy Governor Bam Bahadur Mishra.

The decision was taken because the country is currently experiencing an acute oxygen shortage, which is killing hundreds of every day, according to the central bank.

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