A rumor went viral on social media claiming Nepali people will now be able to exchange only up to 200 US dollars for going on a foreign tour as tourists due to the decreasing foreign currency reserve in Nepal, according to Nepal Rastra Bank (NRB).
(Screenshot from Facebook post)
(Screenshot of post edit history and impressions)
“Routine of Nepal banda” posted false claims on Facebook on 22nd July 2022 at 08:56 AM having 10K reactions which was later edited at 14:28 with only 3.6K reactions.
Debunked Source
Fact-check
In order to verify the claim, we visited NRB (Nepal Rastra Bank) official website. We found a circular regarding foreign exchange dated 04/04/2022 under foreign exchange management department section.
(English translation of the circular)
In the above circular, it is written under section 1 that the money changers who have obtained the license to sell convertible foreign currency can provide up to a maximum of US$200 for passports to the Nepali citizens who are going to visit abroad. Which means that money exchangers are only allowed to provide a maximum of 200 USD to Nepalese traveling abroad.
According to a report by Himalayan Times only commercial banks were permitted to provide foreign currency to Nepali travelers due to which travelers were unable to exchange the currency in case they needed to make an emergency trip. Nepali travelers can exchange up to USD 1500 twice a year from commercial banks. The USD 200 restriction is only applied on licensed money exchangers.
Source
https://www.nrb.org.np/contents/uploads/2022/07/FXMD-Circular-03-2079-80.pdf
https://thehimalayantimes.com/nepal/nepalis-on-foreign-trips-allowed-to-swap-200-thru-money-changers
Rating
Misinformation/ False Context
Conclusion
Our fact-check confirmed that no restriction on the limit of foreign currency exchange is imposed on Nepali travelers. The condition only applied to money exchangers. Nepali citizens can exchange up to 1500 USD twice a year from commercial banks.
ABCDE Framework-Based Analysis
| Actor | Independent social media accounts are involved in spreading disinformation. |
| Behavior | The false news of the limit imposed for Nepalese traveling abroad is circulated on social media. |
| Content | Social Media posts. |
| Degree | The news of the limit applied on money exchangers was twisted and linked to travelers. Targeted audience were the general public and Nepalese living abroad. |
| Effect | The disinformation was shared to mislead people and create panic. |