Nepal has permitted Indian and Nepali nationals to bring Indian currency notes in denominations of Rs 200 and Rs 500, worth up to Rs 25,000 into or out of the nation, as long as the notes were issued on or after November 9, 2016.Indian currency notes in denominations of Rs 500 and Rs 1,000 that were issued prior to November 9, 2016, remain forbidden in Nepal, according to a notice released by the Nepal Rastra Bank (NRB) on Thursday.The central bank issued a new notice on Thursday that reiterated the restrictions and clarified their implementation, even though the NRB had already announced the requirements in a notice published in the Nepal Gazette on February 11.NRB spokesperson Guru Prasad Paudel clarified the new regulations on Saturday, stating that Nepalese citizens are only permitted to import Indian cash into Nepal from India.Similarly, they are not allowed to carry Indian currency from Nepal to any third country other than India.According to Paudel, the new clause will make it easier for Nepalese citizens doing business and trade with India as well as Indians visiting Nepal.The most recent action relaxes restrictions on the flow of Indian cash between the two neighbouring nations, which have an open border and strong interpersonal relationships.Thousands of Nepalese people work, study, and do business in India, which is also Nepal’s biggest trading partner and tourism destination.Additionally, the notice stated that foreign visitors and Nepalese citizens might enter Nepal with up to USD 5,000 or its equivalent in other foreign currencies without filing a customs declaration.Upon arrival, amounts over USD 5,000 must be reported to customs.On November 8, 2016, India demonetised its Rs 500 and Rs 1,000 banknotes, replacing them with redesigned Rs 500 notes and new Rs 2,000 notes that were then subsequently removed from circulation.Nepal had restricted the use and transportation of the old Indian currency notes after the 2016 demonetisation.