Section 63: Management of Foreign Exchange

The Bank shall manage the foreign exchange. The Bank shall have the following powers for such management:

(a) To issue a license under this Act or any other prevailing laws to the people willing to deal with foreign exchange transactions,

(b) To frame Rules and bylaws and to issue necessary orders, directives or circulars in order to regulate dealings in the foreign exchange transaction by the foreign exchange dealer,

(c) To inspect, supervise and monitor the foreign exchange dealer,

(d) To set the bases, limitations and terms and conditions for the transaction of the foreign exchange dealer, and

(e) To prescribe the system of determining the foreign exchange rates of the Nepalese currency.