Nepal Rastra Bank (NRB) has revised its foreign exchange policy by raising the upper limit for silver imports to USD 500,000, up from the previous ceiling of USD 300,000.
The amendment to the unified directive, issued on Sunday, increases the threshold by USD 200,000, signaling greater flexibility in the use of foreign currency for silver imports, particularly when used as an industrial raw material.
According to the revised clause, industries engaged in the gold and silver sector will now have easier access to foreign exchange facilities when importing silver for jewelry, artistic products, and utensils manufacturing.
“When industries engaged in the gold and silver business import silver for their own purposes as industrial raw materials to make silver jewelry, artistic items, utensils, exchange facilities may be provided up to a limit of USD 500,000 or its equivalent in other convertible foreign currency for each import,” states the NRB directive.
This move is expected to provide significant relief to silver-based industries, enhancing their production capacity and reducing constraints in accessing raw materials.
