Kathmandu, Aug. 8 -- Nepal Rastra Bank (NRB) has relaxed foreign currency payment regulations for service importers, citing adequate reserves in the state treasury. The central bank has increased the threshold for payments related to service imports under the revised Unified Circular 2024 on foreign exchange, issued on Thursday.

Under the new provision, organisations importing services from countries other than India can now receive up to US $8,000 without requiring prior approval from the central bank. Previously, the limit was set at $5,000. "However, regulatory consent is mandatory for payments exceeding USD 8,000," the NRB said in a public statement.

For advance payments exceeding USD 15,000-or its equivalent in other convertible fo...