A 46-year-old U.S. citizen, Ni Yan, was apprehended at Kathmandu’s Tribhuvan International Airport for trying to smuggle illegal foreign currency out of Nepal. The arrest took place in the departure hold baggage area as she was getting ready to board a Batik Air flight bound for Malaysia.
During a regular security inspection, airport officials discovered a significant sum of foreign currency concealed in her baggage. The confiscated items comprised $12,748 in U.S. dollars, 249 Singapore dollars, 12,000 Indonesian rupiahs, 100 Malaysian ringgit, 19 mobile phones from different brands, 28 SIM cards, and 122 memory cards. The existence of these foreign currencies and electronic devices aroused suspicions of an unlawful endeavor to export them.
After being arrested, Ni Yan was brought into police custody for additional questioning and investigation. Law enforcement officials have announced that she will undergo a thorough inquiry, and the case will be handled according to the appropriate legal procedures. She was subsequently transferred to the Gaushala police station for further investigation and necessary protocols.
Individuals in Nepal are not allowed to carry foreign currency beyond the limit specified by the Nepal Rastra Bank (NRB) without declaring it, as per the country’s Foreign Exchange (Regulation) Act of 1962. Any amount that exceeds the prescribed limit must first obtain approval from the NRB.
In accordance with the Customs Act of 2007, individuals are required to declare any foreign currency or goods that exceed the legal limit when attempting to export them. Failure to comply with these regulations can result in severe legal repercussions, such as hefty fines, confiscation of goods, and potential imprisonment.
The limit for individuals who require healthcare services outside of Nepal is set at USD 15,000. Meanwhile, for those pursuing education at foreign universities or their affiliated institutions, including expenses for tuition fees, affiliations, and examination fees, the limit is increased to USD 25,000.
Businesses that have an urgent need to purchase airplane parts, telecommunications equipment, or medical supplies from foreign suppliers can now do so up to a limit of USD 100,000. This facility is available if the foreign seller agrees to extend credit. For Nepali citizens traveling abroad, the foreign exchange limit has been set at USD 2,500.