Send money internationally to Nepal (NPR) using the mid-market exchange rate. Check and compare the rates from the major financial providers.
Send money to Nepal
What is the best NPR exchange rate today?
How much does it cost to send money to Nepal?
- International money transfers shouldn’t be expensive.
- Make sure your provider doesn’t add hidden fees or bad exchange rates to your money transfer.
- You should choose a provider that uses the mid-market exchange rate to convert your money.
Who sends money to Nepal?
Four types of people are in need to send money to Nepal.
Nepalese migrants in other countries
The Nepalese diaspora represents more than 1 million of people who are currently living abroad. Among those more than the half, 553'000 Nepalese, are in India. Then we find Nepalese in Malaysia, in the United States, in the United Kingdom, in Bangladesh and in Australia.
Those Nepalese migrants leave their country to find better job opportunities abroad. Besides India they are primarily in English-speaking countries.
Nepalese people who were born overseas
Travelers to Nepal
Many tourists visit the country each year and the number continues to grow.
Companies in business with Nepal
All those people are sending money back to their country each year to their family and relatives. The country received 6.9 billion of US dollars in 2015 according to the World Bank, number that doubled since 2012!
The money mainly comes from the Middle East for $4.9 billion. Even if India is the country counting the greatest number of Nepalese migrants it is not the one that sends the most remittances. Qatar is the country which sends the most to Nepal with $2 billion, and then Saudi Arabia ($1.8 billion), India with $1 billion, United Arab Emirates ($803 million), United States ($332 million).
What are the solutions to send money to Nepal?
As the Nepalese Rupee is among the exotic currencies most banks don't provide the possibility to send Nepalese Rupee abroad. You can send US dollars or Euros for example and the recipient ask his bank to convert the money into Nepalese Rupee. But banks are not the cheapest option to send money internationally as they offer low exchange rates.
A better way to send money to Nepal is to use a money transfer company which is specialized in currencies exchange. Money transfer providers offer better exchange rates and you can manage the speed of the transfer as you know it in advance. Several kinds exist. If your recipient is in urgent need of cash while traveling to Nepal you can use an international cash service which is the fastest way to move money overseas as your recipient can get the money in minutes. If not you can use an online money transfer company which is easy to use and provides quite good rates. If you are in need to move a large amount of money to Nepal foreign exchange brokers are a good way because they have advantageous rates for big amounts.