Kathmandu, May 1

Banks, money exchange counters and hotels, among others, that are authorised to deal with foreign currency will be soon able to report to the Nepal Rastra Bank (NRB) through online system.

The Foreign Exchange Management Department of the NRB has said that it will soon launch an online platform through which the aforementioned institutions can report to the central bank.

Bhisma Raj Dhungana, executive director at the Foreign Exchange Management Department, said that the online platform will be launched very soon to make the reporting system more efficient and effective. Institutions that deal with foreign currency are regulated by the Foreign Exchange Management Department of the NRB and have been reporting to the central bank manually.

“The online platform will make the reporting system more efficient and save time for the institutions,” Dhungana said.