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Home >> Dehradun

Pithoragarh vendors hit by Nepal’s Indian currency ban

| Sunday | 16th December, 2018

Pithoragarh: The Nepal government’s decision to ban Indian currency notes higher than Rs 100 has had a cascading effect on the local shop owners as well as the Nepali citizens who come to Pithoragarh to purchase essential food items. Local vendors say that the move has brought down their business.Every day many people from Darchula and Kanchanpur, which lie at border of Nepal, come to Pithoragarh. They use Indian currency notes extensively for savings and other transactions.With the government banning the higher Indian denomination notes, many Nepali citizens at the border have started buying less due to scarcity of Rs 100 notes, rue local vendors.“A good number of customers from Nepal come here to purchase goods. It has badly affected our business,” said Surendra Sresth, a Nepal businessman who lives in Darchula. Now that the Nepal government has banned use of new Rs200, Rs 500 and Rs2, 000 notes, our business has been severely hit as they are purchasing less and also refusing to accept the higher denomination notes,” chairman of traders body in Jhulaghat, Sunil Joshi, told TOI.“After the ban on Indian higher denomination notes, we are accepting only Rs 100 from our Indian customers.

Pithoragarh: The Nepal government’s decision to ban Indian currency notes higher than Rs 100 has had a cascading effect on the local shop owners as well as the Nepali citizens who come to Pithoragarh to purchase essential food items. Local vendors say that the move has brought down their business.Every day many people from Darchula and Kanchanpur, which lie at border of Nepal, come to Pithoragarh. They use Indian currency notes extensively for savings and other transactions.With the government banning the higher Indian denomination notes, many Nepali citizens at the border have started buying less due to scarcity of Rs 100 notes, rue local vendors.“A good number of customers from Nepal come here to purchase goods. Now that the Nepal government has banned use of new Rs200, Rs 500 and Rs2, 000 notes, our business has been severely hit as they are purchasing less and also refusing to accept the higher denomination notes,” chairman of traders body in Jhulaghat, Sunil Joshi, told TOI.“After the ban on Indian higher denomination notes, we are accepting only Rs 100 from our Indian customers. It has badly affected our business,” said Surendra Sresth, a Nepal businessman who lives in Darchula.

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