Due to the influx of more than the demand through smuggling and hundi, in the past few months, the border Nepali market has become weak and the Neru has strengthened.

On Saturday morning, a passenger of the Himshikhar bus traveling from Biratnagar to Bhadrapur in Jhapa gave Indian rupees (Bharu) to the co-driver while paying the fare. The conductor of the bus, who would have been happy to receive the change at other times, refused to take it this time. '

Don't give Bharu, it doesn't work', he said to the passenger, 'Instead, give five to ten rupees less, but give Neru.' He said to the passengers. When the passenger said that he did not have Nehru with him, the staff of the vehicle replied that he could exchange it with someone else. The passenger asked the others near the seat to take Bharu but no one was ready.

In the border market of Nepal, which until some time ago, it was hard to get money, no one is willing to buy money now. Nepalese currency continues to strengthen compared to Indian currency in markets bordering India. Such a rare trend has been seen in the frontier market for the first time in almost two and a half decades. For the last two months, Nehru has been gaining strength compared to Bharu in the frontier market.

Experts in the economy say that the border market has been weak for the past few months due to the import of more than the demand through smuggling and hundi. Nepal's economy, which is suffering from lack of liquidity, is not stronger than Bharu at this time. Now that Nehru is strong, there is more illegal importation than the market demand. Although the market demand and supply determine the exchange rate, experts say that due to the increase in the supply, the price has decreased due to the fact that a lot of money has been brought in through smuggling and hundi.

Traders in the border area refuse to take the money now. From Biratnagar to Jhapa, Dhulabari, Kakdvitta, Bhadrapur and the border markets of the hilly district of Elam are now full of bhaaru falafal. Pashupati Khadka, director of Pashupati Varieties located in Dhulabari, said to us, "I have put a notice in the shop saying please do not give varu".

The number of merchants posting such notices in the shops in the border markets is constantly increasing. According to the president of industry organization Morang, Suyas Pakurel, the president of the industry organization Morang says that due to the illegal entry of gold through gold smuggling and the casinos in the border areas, the gold has become weak due to the spread in the market. Until recently, Rashtra Bank, banks and counters could not provide Indian currency on demand.

According to local traders, common people are forced to buy Indian currency at a higher price than the exchange rate. Now the situation has changed. Indian currency is very popular in the border Nepali market. Apart from banks and over counters, Indian currency cannot be exchanged at Nepali exchange rate (Rs 160) in the market. Nobody wants to take Indian currency.

Buying gold from Nepal through traders to use black money in India and paying in gold instead, families living in India but having dual citizenship bring black money to Nepal to hide or use it, pensioners who retired from employment in India bring gold when they bring their pension and buying goods from Indian citizens in the border Nepali market and A local trader speculates that this situation may have arisen due to the use of sand while taking the service.

It is also speculated that the supply of Indian currency to Nepal may have increased as the interest rates of deposits in Nepali banks are higher than in Indian banks. No official evidence has been found to confirm this. In this regard, when we inquired about the increase in deposits in the branch offices of the commercial banks in the border markets, it was not found that the deposits increased as expected.

Even in Biratnagar and nearby border areas, 100 bharu of Nepali is being traded at 155 to 158 rupees. Sanjog Bhagat of Bhavya Sathi Center said that because Neru is needed in large quantities, they sell Neru 100 for up to Rs 155. "In the past, Sathi Center used to buy 100 Nepali varus for up to 165 rupees. Now that's not the case," said a local businessman. "Two weeks ago, 100 varus were sold for 140 Nepali rupees in the Jogwani market."

Until a few months ago, the number of Nepalis who kept money in the State Bank and Central Bank of India at Jogwani was quite large. Recently, most of the Nepalis have closed their accounts after Indian banks started giving low interest on deposits. Before this situation happened all at once, around 12 years ago, for a month, the price of copper in the border towns including Biratnagar and Birganj had decreased by Rs 5. The same sequence has been repeated for three weeks.According to Nepal Rastra Bank, 100 Bharu is equal to Nepali Rupees 160. But the traders in the border towns are exchanging the baru at a reduced price.

According to an owner of Adarsh ​​Vastralaya in Jogbani, traders started charging only 158 Neru for 100 Bharu three weeks ago. A week after that, Nehru became 156, after seven days it has stabilized at 158. In the market of Jogbani, transactions are done in Nepali Rupees. Traders here buy gold by paying bribes to illegal traders. They have paid up to Nehru 165 for Bharu 100. Three weeks ago, Nehru was getting Bharu at 162. But when it suddenly decreased to 156, the businessmen were surprised.

Kamal Tapadia of Jogbani's Calcutta cloth store said he was paying Nehru 158 and buying Bharu 100. "We have not been able to understand why the price of copper has suddenly become cheaper in the open market," he said.

Businessmen claim that there is no hotel, tourism, wedding and liquor business because the price of iron is cheap in the open market of the marginal area. Bipin Kabra, treasurer of the industry organization Morang, said, 'This has happened before. Why was it not cheap at that time? Bharu cannot be cheap with such regular trade. There must be other reasons. According to experts, Chinese gold has been coming illegally from the northern border for a month. And, the said gold is going to India through an illegal route.

Since the price of gold in India is more expensive than in Nepal and Chinese gold is cheaper, its unauthorized trading has flourished. Because cheap Chinese gold has been illegally imported into Nepal, businessmen have not taken gold from the banks here. Businessmen have stopped collecting gold since January. They have requested the bank not to import gold by making a formal request. Gold has not been withdrawn from the bank even in the month of January. Magha is the time of marriage and bratavandha.

Even 12 years ago in the border market, Bharu was weaker than Nehru because of gold. According to the source, with the liquidity in Nepal, the banks have started giving good interest on deposits and have allowed their relatives in Nepal to keep their money. That is why the lack of liquidity in the bank has also decreased. Now the bank has money that can invest up to two billion.

Because of this, they are buying Nehru by giving money in the unauthorized market. Due to this, Bharu became weaker than Nehru. Banks have been offering up to 14 percent interest on fixed deposits for remittance accounts since November.