NRB increases gold import quota

Kathmandu: Nepal Rastra Bank (NRB) has increased the daily quota of gold imported by commercial banks to 20 kg. NRB has issued a circular to the commercial banks on Thursday allowing them to import gold up to 20 kg per day.

Last year, the government reduced gold imports to 10 kg per day due to the Corona epidemic. According to the Department of Foreign Exchange Management of Nepal Rastra Bank, the daily quota of gold imported by licensed ‘A’ class commercial banks has been increased to 20 kg by amending the Procedure on Gold Import and Sale Distribution.

Earlier, 25 kg of gold was imported daily during high demand and 20 kg per day during the dry season. Meanwhile, gold dealers have been asking the government to allow to import 30 kg gold per day.