Kathmandu, July 28 -- As part of its effort to control the outflow of foreign currency, Nepal Rastra Bank will now regulate the spendings of Nepalis on foreign trips and universities.

"Necessary policies will be made to regulate foreign exchange expenditure on education and group tours," states provision 143 of the monetary policy, unveiled on Wednesday for the new fiscal year.

According to Rastra Bank officials, the provision, along with several others under the Foreign Exchange Regulations, is intended to protect the country's depleting foreign exchange reserves.

"The amount of money Nepalis spent abroad on travel has exceeded the amount the country earns in revenue from international tourists," said Laxmi Prappanna Niroula, spokespe...