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Banks halt luxury items’ imports amid dwindling forex reserves

KATHMANDU: The Nepal Bankers’ Association, an organization of chief executive officers (CEOs) of commercial banks, has decided to halt the issuance of letter of credit (LC) used for import of luxury items for a week. Imports are set to decrease as banks do issue LCs. A meeting of the association...

Banks halt luxury items’ imports amid dwindling forex reserves
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