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Oli requests Modi to provide exchange facility for demonetised notes

Press Trust of India  |  Kathmandu 

K P Oli today urged his Indian counterpart to allow exchange of demonetised high-value Indian currency notes held by the country's banks and the general public at the earliest.

According to the Nepal's national bank, the Rashtra (NRB), nearly 33.6 million Indian rupees in Rs 1,000 and Rs 500 banknotes are currently in the

"I requested Ji to facilitate the exchange of demonetised currency notes held in the and by general public, at the earliest," Oli said at a joint press meet after their bilateral talks.

arrived in today on a two-day state visit.

The landlocked country depends on for trade and supplies.

Modi, on November 8, 2016, had announced demonetisation of high value currency notes. Indian currency is widely used in Nepal for day-to-day transactions, especially in the border areas.

Also, Nepalese citizens working in send remittances to their families in Nepal in higher denomination notes.

In March, had announced that Nepal would soon get exchange facilities for the demonetised high-value Indian currency notes to ease difficulties faced by Nepalese citizens.

Jaitley, who was on a visit to Nepal, had said the NRB and the Reserve of would set a modality for the exchange of demonetised currency notes soon and settle the related issues.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 11 2018. 22:25 IST