NRB increases gold import

Kathmandu, May 16 – Nepal Rastra Bank (NRB) has increased the gold import and distribution quota to 20 kg per day from 15 kg from Wednesday following the increase in daily demand of gold due to wedding season.

The central bank has increased the gold import and distribution quota for two months till July 15 following the demand of the gold entrepreneurs.

The gold traders had recently called on the central bank urging it to increase the import quota following the rise in the demand of the jewelry due to wedding season.

However, the gold traders said that the raised quota is still insufficient compared to the demand of the market. They said the daily demand of the gold is 45 kg.

The central monetary authority had allowed importing only 15 kg of gold some two years ago