<figure><img width="1918" height="973" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cb39c7e80680e0af373jpeg.jpg" alt=""/><figcaption>Shri Mananka, circa 5th Century AD. The obverse shows a lion while the reverse a seated goddess. Photo: OLDCOINSTAMPNOTE</figcaption></figure>On the walkway leading to the Pashupatinath Temple, vendors sit on cold stone slabs with stacks of glittering red and yellow coins before them. Some devotees stop by to buy bunches of the Re1 or Rs 2 coins for a little more than their value to offer to the gods inside.The transaction happens quickly. One side produces paper cash and the other hands over the metal coins in exchange. Chances are, some of the coins will find their way back to the vendors again, to be ‘recycled’.With lower currency denominations nearly worthless, one of the few places in Nepal where coins are still used are temples like Pashupatinath. These days, one does not pay in coins but for coins — the medium of exchange has become the object of trade itself.Bibash Shrestha, a shopkeeper in Kirtipur, cannot recall the last time he handled a coin in his store. “There is rarely any loose change to return,” he remarks. “Before we used to give out candies to make up for the difference, now even they are worth more than Re1 or Rs2.”Coins are still integral in Hindu and Buddhist puja, marriages and other rituals. During the Hindu chaurasi puja, for instance, bundles of gold coins are handed out to attendees at the end. And when building a house, coins need to be ceremonially placed on the foundation.But coins bear clues to Nepal’s historical and economic past, and carry great anthropological significance. Govinda Neupane, a student of archaeology, remarks that in the digital world of today, coins are the new kinds of intangible heritage.He says: “Coins are the witnesses that justify our history, they have archaeological and historical value. They provide a window to understanding our past and present, and function as markers to specific historical periods.”Indeed, letters and markings on coins inform us about the king or queen at the time of their minting. The alloys of copper, silver or gold used tell us about the state of the economy of that time and place. The figures on the coin reveal the religious beliefs and influences of the period. <figure><img width="1600" height="1200" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cb69c7e80680e0af374jpeg.jpg" alt=""><figcaption> </figcaption></figure>As for metal coins, the oldest excavated in Nepal are punch-marked ones from the 5th century BCE from Kapilvastu in Lumbini. Currently in display at the <a href="https://numismaticsmuseum.gov.np">National Numismatics Museum</a> in Chhauni, there coins are originally from what is now India and have various symbols ‘punched’ on them. These coins prove that trade had moved beyond the barter system in the region.Historian Satyamohan Joshi writes in his book नेपाली राष्ट्रिय मुद्रा (National Currencies of Nepal) that coinage in Nepal can be divided into three eras starting in the 5th century AD during the Lichhavi, Malla and Shah dynasties in the Valley.The earliest coins found in Kathmandu was issued by the first Lichhavi king, Mandev (pictured above). Minted during his reign from 464AD to 505AD, the obverse has a lion with its paw raised and ‘Sri Mananka’ written above it, while the reverse shows a figure of a goddess seated on lotus with ‘Bhogini’ inscribed on it. The script used is Brahmi, the forerunner of almost all writing systems found in South Asia. The current writing system of Nepal, the Devnagari, is a descendant of Brahmi.The figure of the goddess recalls influence of the ancient Indo-Greek kingdom from the 1st century BCE. All Lichhavi coins are made of copper and have on them the king’s name, the figure of a god or goddess, with flowers, vajra, trisul, kalas, the sun, the moon, or animals such as the bull, lion, cow and elephant. There is consistency in their shapes and sizes, and are handmade, but there is no date inscribed on them.Lichhav kings Gunakamdev and Anshuvarma have similar coins to their predecessors, while coins issued by King Jisnugupta (635 - ?) show a bull on one side, and a vajra or a trisul on the reverse. Satyamohan Joshi takes this as proof of the king’s devotion to both Shiva and the Buddha.Suman Basnet, an avid collector of Nepali coins for the past 20 years, says that in addition to the metal used, the different symbols and depictions are in themselves records of history and the attitudes of people.“These coins are concrete evidence of how people lived in those specific times and places,” he says. “I wanted to delve deep into our history through something concrete and ubiquitous as coins. These coins could have been handled by farmers, merchants, kings, men women and children in the past.”Indeed, the pre-Lichhavi period and the 800 years between Lichhavi and Malla rule in Kathmandu’s history are less well-known largely because there are no coins from those eras. After the Lichhavi period, the oldest coins and Nepal’s first ever silver ones, were issued by King Indra Dev of <a href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/heritage-conservation-outside-kathmandu,3487">Dolakha</a> in 1545AD.Then in 1566 King Mahendra Malla, who built Kathmandu’s <a href="https://www.nepalitimes.com/here-now/how-nepali-antiquities-got-to-chicago-museum/" target="_blank" rel="noopener noreferrer">Taleju Temple</a> two years previously, issued silver coins in the Valley. Various historical sources mention that he presented a swan and a hawk to the Mughal Emperor Akbar in Delhi (some say it was Humayun) who in turn granted Mahendra Malla permission to mint silver coins of 6 masa (~5.8 grams) in his name. These coins are also known as Mahendra malli and according to historian Balchandra Sharma, the practice of calling silver coins Mohar began with them.While both the Lichhavi and the Malla coins show cross-cultural influences — Indo-Greek, Mughal and Tibetan, among others, for example — the medieval designs of Malla coins are much more elaborate, with tantric and Vajrayani motifs, and do not depict figures of deities. The coins themselves are either square or circular. Even animals (other than the lion) are absent, and more importantly, the name of the ruler with the year is inscribed legibly, written in Ranjana, Persian or Arabic alphabets. <img width="2059" height="2053" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cb99c7e80680e0af375jpeg.jpg" alt=""><img width="1280" height="1280" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cbd9c7e80680e0af376jpeg.jpg" alt="">Mohar from Pratap Malla's reign. Photo: HERITAGE AUCTIONSSeveral stamped clay and leather 'tokens' with illegible writings on them have been discovered from these times as well, but not enough research has been done regarding their purpose and use as media of exchange, and historians are cautious to call them 'coins' literally. In fact, while coins have been metallic historically, some of the earliest-known tokens of exchange were kaudis, essentially small shells used as circulation currency in Ancient India before metallurgy became widespread. Malla coins contain a confluence of Hindu and Buddhist symbols. Geometry is prominent and each coin is decorated with various artifacts (kalas, vajra, trisul, clubs and astamangal) in triangles, squares, hexagons and octagons. The symbols and letters represented the kings’ names, their queens and family members. They also etched on the metal their interests, their lofty aspirations, with their various epithets. Satyamohan Joshi writes that these aesthetic choices were intended to attract the public’s imagination and devotion towards the rulers and their families. The smallest silver coin in the world is in fact a Malla coin — called Jawa in Newari, or Fukkadam — minted during the reign of Jaya Prakash Malla, the last king of Kathmandu, and weighing 0.004 grams. <figure><img width="640" height="480" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cc19c7e80680e0af377jpeg.jpg" alt=""><figcaption> </figcaption></figure>The Malla period ended with Prithvi Narayan Shah’s annexation of the three kingdoms of the Valley. Historian Dinesh Raj Panta says that before Prithvi Narayan, there is hardly any concrete evidence of Shah coins. But after his conquest of the Valley, unified Nepal’s first king began to issue silver mohar in his own name.The first one with Prithvi Narayan Shah’s name inscribed on it had a trisul on the obverse surrounded by ‘Sri Sri Prithvi Narayan Shahdev’ written within gaps made by a swastik on a square. The sun and the moon sat on each top corner and at the bottom was inscribed the date in the Saka calendar: 1692 (1770AD).On the reverse is a wheel at the centre divided in three sections, on which is written ‘Sri Sri Bhawani’. There is a khadga at the centre of this wheel decorated by dots in a bell-like arrangement. Around the edge are letters श्री, श्री, श्री, गो, र, ष, ना and थ (‘Sri Sri Sri Gorakhnath) after the patron deity of the Shah dynasty. <figure><img width="1500" height="745" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cc49c7e80680e0af378jpeg.jpg" alt=""><figcaption> </figcaption></figure>The Shah coinage also saw rise in the use of gold, which had begun sporadically in the medieval period. Despite the rare metal, each Shah king or queen has issued at least a couple Nisar gold coins (named after the commemorative medallions the Mughal emperor Shah Jahan issued at his court in the 17th century) in their name, although for special occasions only.As Nepal had no silver mines, the metal had to be imported from Tibet. As per the 1556 treaty Mahendra Malla signed with Tibet, the coins minted in Nepal would be used there as well, allowing Kathmandu Valley’s trade, art and culture to spread and flourish.The full value of Nepali coins in Tibet was set at a single denomination of 15 karma. But when people needed smaller denominations, the coin could be cut into two-third, half and one-third along its petalled design. These were called chotang in Tibet, meaning ‘cut Mohar’ and a few examples dating to the times of Jaya Prakash Malla and Pratap Singh Shah can be found at the National Numismatic Museum. <img width="1125" height="705" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cc79c7e80680e0af379jpeg.jpg" alt=""><img width="1125" height="651" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cca9c7e80680e0af37ajpeg.jpg" alt=""><figure><img width="4032" height="3024" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1ccd9c7e80680e0af37bjpeg.jpg" alt=""><figcaption> </figcaption></figure>Jaya Prakash Malla had hoped to alleviate the crisis brought by Prithvi Narayan’s blockade of the Valley by minting low quality coins mixed with copper to export to Tibet. When the Shah king wanted to revert to using pure silver coins, the Tibetans asked to have all the older coins replaced as well. The war of annexation had just ended and this would have added further financial burden to the new ruler. The dispute went unresolved, which was in turn inherited by Prithvi Narayan's descendants after his death. Tibet by then had begun to send low quality rock salt to Nepal in retaliation.The Nepali delegation sent to Tibet to resolve these trade issues was rejected, giving the Gorkhali kingdom a pretext to raid rich monasteries north of the border, and in 1788 to invade Tibet itself.The first invasion ended with Gorkhali victory, and Tibet agreed to pay war reparations to Kathmandu and a further Rs50,001 in annual tribute. But after the first year, Tibet stopped paying it and the war continued.During the second invasion, China’s Qing emperor came to the aid of Tibet and chased the Gorkhali forces back over the mountains as far south as Nuwakot, only 30km northwest of Kathmandu. The Sino-Nepal war ended in 1792 with Gorkhali defeat. A treaty was signed at Bhetrawati near Nuwakot Palace, and Nepal started paying a tribute to China in 1792, 1794, 1795, 1823, 1842 and 1865.Following the war, Nepal was no longer able to export its coins to Tibet. A mint was established in Lhasa to supply coins to Tibet which affected the amount of silver coming to Nepal and its economy. The Gorkhalis were also waging a costly war against the East India Company in newly-conquered areas of Garhwal and Kumaon.After <a href="https://www.nepalitimes.com/banner/beginning-of-the-end-of-the-gorkha-empire/">the Anglo-Gorkha war</a>, rulers in Kathmandu tried to compensate for the shortage of silver coins by prohibiting the import of British coins and turning the <a href="http://archive.nepalitimes.com/article/nation/The-Pashmina-War,1024">East India Company</a> coins into Nepali ones, but even then the supply was not enough.In fact, ‘Company’ coins because so valuable that some elderly women in remote parts of Nepal can still be found wearing garlands made of East India Company silver coins. <figure><img width="1200" height="1002" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cd09c7e80680e0af37cjpeg.jpg" alt=""><figcaption> </figcaption></figure>Later in early 19th century, the second Rana prime minister, Ranoddip Singh brought water-powered machines to help artists and craftsmen mint consistent-looking coins more efficiently.  These machines would flatten the metal and etch designs on both sides.Ranoddip’s nephew and successor Bhim Shamsher then brought coal-powered machines to mint coins. This gift of industrialisation would mint around 12,000 alloy coins daily in Dharara Taksar in Kathmandu. Today, the mint has shifted to Babermahal and only makes commemorative coins.The designs of Shah coins have been more or less the same since 1770, with similar symbols and motifs. However, when democracy was established, silver-alloy coins were issued that showed King Tribhuvan wearing a Dhaka topi as opposed to a crown against a five-pointed star. <figure><img width="1200" height="1200" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1cd39c7e80680e0af37djpeg.jpg" alt=""><figcaption> </figcaption></figure>‘This design, in light of the end of the Rana rule, was meant to signify that the king was no different from a commoner,’ Satyamohan Joshi explains in his book. Tribhuvan’s successors Mahendra, Birendra and Gyanendra were similarly depicted.When monarchy was formally abolished by the Constituent Assembly in 2008, the figures of the kings were replaced by the डाँफे (Impeyan pheasant) and the cow. Only Re1 and Rs2 were in circulation, and even those are now falling out of use.“In the digital age where all our transactions are invisible in the internet, it is important that focus be given to the cultural, religious, social and political significance of coins,” says Suman Basnet.He compares this changing attitude towards physical money and especially coins to postage stamps: “Perhaps this is what progress looks like, but as we move to a cash-less society, there is a possibility that we lose connection with our heritage and our past. This calls attention to the fact that it is important now more than ever that we retain and remember our history.”The Nepal Numismatic Society holds meetings regularly in Thapathali, and there are more and more younger attendees, meaning that coin-collecting is still popular. “Traditionally, it had been the elderly and the tourists who collected coins,” says Basnet. “But there are a few young people who show great promise.”Says Govinda Neupane: “Coins bring several different avenues of our society together. We can study economics, language, history through coins, and we should preserve them for our future generations to look back and develop their own analyses and understanding.”

Ashish Dhakal

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Losing loose change in Nepal

<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1c819c7e80680e0af363jpeg.jpg" alt="" width="1040" height="600"/>Nepali rupee currency notes worth Rs2,758,424,164 is in circulation across the country, according to Nepal Rastra Bank which is in charge of note issuance and management.There was new note stock worth Rs79.81 billion until last fiscal year, which is a six fold increase compared to a year before.The paper currency most in circulation is Rs1,000, of which there are 488,615,058,  whereas there are only 348,705 bills of the old Rs250 notes in the market.

Rs 2,758,424,164 in circulation

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161132/636d19939c7e80680e0ac827jpeg.jpg" alt="" width="664" height="450"/><figcaption></figcaption></figure>Even as Nepal tries to recover from the impact of the pandemic, the country’s economic indicators released this week by the central bank show dismal performance in the first two months of the fiscal year.The report by the Nepal Rastra Bank shows that Nepal’s foreign currency reserves fell to $11.1 in mid-September, 6.6% below the figure for last year, this is enough to pay for only 8 months of total imports.Even more worrying is that <a href="https://www.nepalitimes.com/banner/defying-predictions-nepals-remittances-still-high/" target="_blank" rel="noopener noreferrer">overseas remittances that had held steady despite the pandemic</a> for the past two years have now started declining. Nepalis abroad sent home Rs155 billion in the past year, which is 6.3% below the same period last year.Despite the pandemic, remittances had risen by 8.1% in fiscal year 2019-2020. Experts attributed that to overseas workers sending money home as the economic crisis hit families back home, and not necessarily due to higher earnings.The concurrent decrease in foreign currency reserves to finance <a href="https://www.nepalitimes.com/editorial/blood-sweat-tears/" target="_blank" rel="noopener noreferrer">Nepal’s imports, mainly of petroleum</a>, food and other commodities, is seen as an indicator of an impending economic crisis. The main reason for the current downturn is shrinking remittances, which prop up Nepal’s economy.Indeed, compared to 2019-2020, the past year has seen a steep 76% increase in imports to a record Rs352 billion, mainly due to a rise in the import of petroleum products, gold, silver and other items, according to Rastra Bank figures.Even though exports went up by 115% in the same period to Rs44.4 billion, it did not put much of a dent on the trade deficit which has risen to Rs270 billion in the past two months of the fiscal year. This represents a 71% increase in the trade gap compared to last year.The <a href="https://www.nepalitimes.com/latest/nepal-less-and-less-able-to-feed-itself/" target="_blank" rel="noopener noreferrer">growing asymmetry between imports and exports</a> means that the country’s balance of payments situation is now Rs83.4 billion in the red — up from Rs38.7 billion in July.With the alarm bells ringing, the government has drastically reduced the amount of money Nepalis can officially exchange before traveling abroad from $1,500 to $200-500. This week, further austerity measures were announced, including a ban on the purchase of vehicles for official use.The negative trend in economic indicators could not have come at a worse time. Just as the country was recovering from the <a href="https://www.nepalitimes.com/banner/the-real-cost-of-nepals-second-wave/" target="_blank" rel="noopener noreferrer">economic impact of the pandemic</a>, it was hit by extreme rainfall this month which killed more than 110 people across the country, and destroyed up to one-third of the country’s ready to harvest rice crop.The Ministry of Agriculture estimates that nearly 90,000 hectares of rice fields were severely damaged by <a href="https://www.nepalitimes.com/latest/post-monsoon-rain-ruins-nepals-crops/" target="_blank" rel="noopener noreferrer">the unseasonal post-monsoon rains</a>, and paddy losses will amount to more than Rs8 billion. Lumbini Province is said to have suffered the worst, with more than half of the initially reported damage nationwide.The unprecedented destruction comes just as farmers and officials were optimistic about a healthy rice harvest because of a healthy monsoon season. Rice is such an important component of Nepal’s economy that it will impact on the GDP, economic growth, and have a knock-on effect on the trade deficit because more rice will now need to be imported.Last year Nepal produced 5.6 million tonnes of rice from 1.4 million hectares of paddy fields, up 1.3% from the previous year. However, rising income levels of Nepalis has also meant that rice consumption is growing, and the country had to import Rs 51 billion worth of rice last year, compared to only Rs23 billion in 2019.Analysts say the <a href="https://www.nepalitimes.com/here-now/are-nepalis-really-eating-more-rice/" target="_blank" rel="noopener noreferrer">sharp increase in rice imports</a> cannot be attributed only to rising consumption, explaining it by the rise in demand from Nepal’s breweries and the dramatic rise in domestic beer consumption.

Nepal’s remittances, forex reserves drop

<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171116/63692fcb9c7e80680e03c0c4jpeg.jpg" alt="" width="1556" height="814"/>During  the upcoming festival of lights called <a href="http://archive.nepalitimes.com/blogs/mycity/2014/10/31/tihar-celebrations/" target="_blank" rel="noopener">Tihar in Nepal</a> and Diwali in India, families will take the opportunity to clean up their valuables, make an inventory of their wealth and store their assets back into a safe deposit box. And explode firecrackers.The big day of Laxmi Puja this year is on 7 November, and people worship the goddess and welcome her home in the hope that she will ensure prosperity in the coming year.Many Nepalis invest in gold or property, and this year everyone will be happy that the value of both have gone up. If you have saved in paper money, a thousand rupee note sadly is now worth only Rs 930 in terms of purchasing power.Last year, <a href="https://archive.nepalitimes.com/article/business/Business-And-we-all-fall-down,563" target="_blank" rel="noopener">the US dollar</a> was at Rs100 per dollar, this week it is at nearly Rs120. Economists will tell us that the <a href="https://archive.nepalitimes.com/article/business/Indian-currency-black-market-pushes-rupee-peg-into-debate-again,2752" target="_blank" rel="noopener">Nepali rupee is pegged to the Indian currency since 1956</a>, and hence when its value falls the Nepali rupee also falls. India needs to import a lot of oil which is getting more expensive because the United States  imposed sanctions on Iran and Venezuela thus decreasing global supply.There has also been a slowdown in India’s economic growth rate, and the US economy is doing well because American companies are bringing home profits from money invested abroad. All this is impacting Nepal via India.There was a time when Nepalis calculated their wealth in number of elephants (Gajalaxmi), number of cows and piles of manure (Gobardhan). Today, the cost of the dollar is a concern, just as it is to buy wine, electronics, cars, or to spend holidays abroad. One in four Nepalis is living abroad, and they send home hard currency, which means the festival of <a href="http://archive.nepalitimes.com/issue/167/Culture/5035#.W81543szaUk" target="_blank" rel="noopener">Laxmi Puja</a> will see greater spending than before. This is why despite the Nepali economy having tanked, spending power is high.For tourists visiting Nepal, everything will seem cheaper, but hotel rooms, air tickets, tour packages are all priced in dollars and therefore should really make no difference. They are going to be irritated that entrance fees to Nepal’s conservation areas have gone up since they got on the flight to Nepal.Ideally for those exporting goods and getting paid in US dollars, the situation is rosy, unless you have component inputs like oil, machine parts, ingredients that have US dollar price tags.While everyone complains that everything is getting more expensive, few blame the political parties for the state of the economy. Even fewer demand the Central Bank to “do something”. Should the Nepali currency be un-pegged or should we set a new peg-rate to the Indian currency? Do we need to close the Nepal-India border before we do that? The regulators in China get accused of devaluing their currency to help exports, should Nepal use this opportunity to boost exports?Decisions like these require sound market information which we seem to lack. We rely on tables and indices made by donors and multilateral agencies. One thing we can be sure of is that there will be a seminar on the topic of the falling rupee after Laxmi Puja. Experts will present their views and proceedings will be recorded. Bureaucrats will line up to go on foreign-funded fact-finding junkets to study the impact of currency drops.Actually, the falling value of the Nepali currency against the US dollar is an advantage for Nepalis who depend on remittances, or for those who want to produce and export. It is a really bad deal for those who depend on imports, or those <a href="https://www.nepalitimes.com/banner/migration-certificate/" target="_blank" rel="noopener">sending children off to study abroad</a>. For those earning in dollars and spending in Nepali rupees, things could not be better. For the poor who have no money this whole discussion is a waste of time.Anil Chitrakar is President of Siddharthinc.

Anil Chitrakar

Dollar Laxmi

Fenerbahçe Beko won the Turkish Airlines EuroLeague finals in Abu Dhabi, held 23-25 May, defeating Monaco 81-70 in the final. Olympiacos, who defeated Panathinaikos 97-93, finished the series in third place. The Most Valuable Player (MVP) of the final match, Nigel Hayes-Davis from Fenerbahçe Beko, received a prize of 1,000,000 Miles&amp;Smiles from Turkish Airlines’ Chief Commercial Officer Ahmet Olmuştur. The carrier has been the title sponsor of the Turkish Airlines EuroLeague, a top tier tournament, since 2010.

Turkish Basketball

Thousands of Nepali students dreaming of an American education have been forced to look elsewhere as the Trump administration’s visa restrictions make their future uncertain.
The US was long considered a top destination for higher studies, making Nepal the 10th biggest country of origin for international students in America.&nbsp;
However, that number has seen a significant decline with the total for Nepali students now at 16,482. Some 8,000 Nepali students obtained no-objection certificates to study in the US from the Ministry of Education in the past year.&nbsp;
India, Australia, Canada, South Korea, United Kingdom and Japan are the other popular destinations for Nepali students. There are no clear numbers for Nepalis going to India, but a slight decline was noted this year after the deaths of two female students.
The US State Department has issued a circular to its embassies not to issue new visas to applicants until further notice. US Secretary of State Marco Rubio in the directive stated that the department planned to expand the screening of applicants' social media.&nbsp;
While new applicants are barred including those applying for visitor visas, students with scheduled interviews are allowed to proceed.
“Many of our students are affected by the new restrictions, but those who had applied for student visas earlier have got interview dates,” one Kathmandu-based college counsellor told us.
Meanwhile, even foreign students with spotless records already in the US have not been spared, as visa scrutiny intensifies under the new policy. In a move that underscores the growing sense of insecurity, many US colleges advised international students to carry their passports and documents at all times, even when traveling locally.
“Me and my friends did not go home this summer because we were not sure we would be allowed back, so we just went to Niagara Falls,” said a Nepali undergrad in Ohio, who like many interviewed for this report did not want her name used for fear of repercussion.
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Nepali students have adopted a cautious stance, with many choosing not to return home during summer vacation due to fear of visa revocations as well as travel bans. Meanwhile, over 7,000 Nepalis with Temporary Protected Status (TPS) will have to come back to Nepal by 5 August or face deportation. Thirty-seven were flown back to Kathmandu on Omni Air last week.
“The US is one of the most sought-after destinations for higher education, and the ban will definitely impact bright students,” says Narottam Aryal of the King’s College in Kathmandu.
Indeed, Nepali undergraduates admitted into Ivy League colleges for the 2025 academic year have been asked to look for alternatives. The entire Fulbright Foreign Scholarships Board resigned on Wednesday citing interference from the Trump administration on the selection of this year’s cohort. Some Nepali students already on Fulbright scholarships have noted disruptions, delays and even cancellation of stipends.&nbsp;
The student visa restrictions were initially just for foreign students admitted to Harvard University, but it was later extended to all Chinese students and now to all students. Universities like Columbia which actively recruit foreign students, face sharp enrolment declines, threatening their financial stability and diversity.
An Indian female PhD candidate at Columbia University had her visa revoked by the US State Department, and said she was targeted on the basis of her social media posts on Israeli military attacks in Gaza. Social media vetting of political activism has raised concerns about privacy and freedom of expression in a country where such rights were a given.
Many students have been informed via email that their visas have been revoked for getting speeding or parking tickets, but even others with no criminal record have been affected. The fear of deportation looms large amongst international students, including those from Nepal.&nbsp;
For most Nepalis who migrate to the US for education, the journey is a high-stakes investment. They come largely from middle-class families, often rely on a patchwork of scholarships, work-study programs, loans, or even the sale of family assets to afford fees.
Most Nepali students pursue STEM subjects which offer extended Optional Practical Training (OPT) periods that help fund their education. But with the US backsliding on education and humanitarian matters, countries like the UK and Canada are becoming more attractive despite their own recent stricter controls on student visas.&nbsp;
The UK universities saw a 63% rise in Nepali students’ admissions in 2024. Japan is another popular destination with 64,816 Nepali students enrolled as of 2024.
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Already, China, Hong Kong and Malaysia are poised to benefit from the increased scrutiny of US student visas. Several Hong Kong universities are offering unconditional admission to affected students, while Malaysian institutions are targeting previously US-bound Asian students. China and India have 330,000 and 280,000 students respectively in America, but the numbers for China have seen a sharp drop in the past year.
Elsewhere, branch campuses of American institutions such as NYU in Abu Dhabi, Georgetown in Dubai and Northwestern in Doha are getting more admission applications, and universities in the Gulf region are expanding infrastructure to accommodate those who would otherwise have gone to the US.&nbsp;
Even educational institutions in Nepal are hopeful that the US visa restrictions can be an opportunity to at least keep Nepali undergrads in Nepal, and also attract foreign students from the region.&nbsp;
“Many students might choose to complete their undergraduate degree here in Nepal and then move abroad for their Master’s degree later,” says Aryal of King’s College. “There was a need for quality higher education in Nepal anyway in terms of innovation and opportunities, so this could be the time to reduce our dependence on other countries.”
Nepal’s strategic position between India and China makes it sensitive to US policy shifts. India, a key ally, is also under US scrutiny for potential student travel restrictions. Chinese universities are already offering more scholarships to Nepali talent to capitalise on the US retreat.
American universities have challenged student visa restrictions in the courts. A federal court in Boston revoked the blanket ban on Harvard, and the State Department has ordered the resumption of processing student and exchange visitor visas.&nbsp;
Some are still hoping that President Trump will backtrack on the student visa restrictions, just like he has done with many of his more drastic executive orders.
Even so, the visa see-saw and longer-term uncertainties about living in the United States and its education system means students across the world are making alternative plans.
Says Aryal: “Policies of foreign countries change according to their needs, so excessive dependence was never a good idea. We should work to create different opportunities and choices of higher education within Nepal, so students are retained.” &nbsp;

America no longer prime destination for Nepali students

While Nepal was hosting the Sagarmatha Sambaad international climate conference in Kathmandu this month, on Mt Everest it was pretty much business as usual.&nbsp; The signs of climate breakdown are all there: a river now runs through Base Camp in summer, the Khumbu Icefall is more unstable, and there are more &nbsp;frequent avalanches. When expeditions arrived in March, the mountains were bare: it had not snowed since September, but then blizzards dumped unseasonal snow in May. And despite climate worries, such is the pull of Himalayan mountaineering that the Everest Industry showed no signs of slowdown. More than 600 international climbers and their Nepali guides had made it to the summit of the world’s highest mountain. At one point there were an estimated 2,000 people in the tent city on the Khumbu Glacier. All the ropes and ladders on the Icefall came down on Thursday, marking the official end of the spring climbing season, and just in time to avoid a monsoon cyclone approaching from the Bay of Bengal. It has been an action-packed season. One factor could be that Everest fees will go up from September: each foreign climber needs to pay a $15,000 royalty, up from the present $11,000. The cost for a Nepali climber on the South Col route will also go up: from Rs75,000 to Rs150,000.&nbsp; The fee to climb Everest in autumn is $7,500 (up from $5,500), but most climbers still prefer spring. Winter permit fee (December-February) is only $3,750 per person and the mountain is now also open for monsoon (June-August) climbs, when the fee is ever lower at $2,750. The revised rule also makes it mandatory for every two climbers on an 8,000m peak to hire one Nepali mountain guide.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025053004050_67f856fe52714e4bdcf21ae7d45c6f18c82117b9d0a5f73ed1efa04c96de1046.jpg" data-media-id="editor_0" data-image-id="2025053004050_67f856fe52714e4bdcf21ae7d45c6f18c82117b9d0a5f73ed1efa04c96de1046" data-rendition-name="original" width="931" height="732" loading="lazy" alt="The Everest Industry graph 1"> </figure>  In addition, climbers also have to pay for porters and guides, equipment, Base Camp costs, Ice Fall and fixed rope team fees, so climbing Everest does not come cheap. But such is the draw of climbing the world’s highest peak that some say the increased fees will not diminish the crowds next year. The government has tried to spread expeditions out to other seasons and other 8,000ers, but with not much success. Earlier this year, Nepal unilaterally increased the number of 8,000m peaks to 14 by adding six more sub-summits to broaden the choice for climbers. Added were: Yalung Kang (8,505m), Yalung Kang West (8,077m) &nbsp;Kangchenjunga Central (8,473m), Kangchenjunga South (8,476m), Lhotse Middle (8,410m) and Lhotse Shar (8,400m).&nbsp; The announcement could go against the accepted topographic criteria that a stand alone peak has to be at least 300m higher than an adjoining prominence, and at more than 3km isolation from it. The UIAA (Union Internationale des Associations d'Alpinisme) still recognises only 14 mountains as eight-thousanders, and only eight of those are in Nepal, or on the border with China. Nepal’s revised mountaineering regulations also increased the insurance coverage of high-altitude workers to protect porters and high altitude guides who usually take more risks on the mountains. Rescue teams and clean-up campaigners to collect trash and remove bodies of dead climbers up to Camp IV of Mt Everest do not need permits.&nbsp; The Sagarmatha Pollution Control Committee is now using drones to fly down trash in 20kg sacks. Each climber is also required to bring down at least 6kg of waste and not just their own, but this rule is erratically enforced. With five fatalities on Everest and Lhotse, Spring 2025 had a historically low death toll. Another five climbers died on Annapurna, Kangchenjunga and Makalu.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025053004050_38681de22f0fefb6faa12b01755566d09c5064d0ff84e12ccc7b5d68ea9ba38a.jpg" data-media-id="editor_1" data-image-id="2025053004050_38681de22f0fefb6faa12b01755566d09c5064d0ff84e12ccc7b5d68ea9ba38a" data-rendition-name="original" width="665" height="740" loading="lazy" alt="The Everest industry graph 2"> </figure>  Journalist Ben Ayers who ran the Everest Live social media channel from Everest Base Camp with daily updates credited the low death rate to dramatic rescues of climbers from the ‘Death Zone’ by their Nepali guides and longline helievacs — the visuals all uploaded on YouTube.&nbsp; “Ironically, this perception of safety is bringing more and more inexperienced climbers to the mountain, and they need more rescues,” Ayers said in one of his dispatches.&nbsp; American expedition chronicler and summiteer Alan Arnette suspects there is a lot of under-reporting given that the jet stream and storms were lashing Everest even till late in the season. He told us: “I heard a lot about frostbite and rescues that were not made public. It’s become practically impossible to cover the details on Everest. All the teams report nice news, and they don’t talk about bad stuff to avoid hurting businesses.” Although trash on Nepal’s mountains makes headlines, what does not receive as much attention is the climate impact of so many expeditions. The Sagarmatha Sambaad conference sidestepped this issue, which is ironic given that the impact of climate breakdown is most evident on Himalayan peaks and their glaciers.&nbsp; <h2>Need for Speed</h2> The big stories this year have been about speed-running from their home cities to the top of Everest. Ukrainian entrepreneur Andrew Ushakov flew out of JFK on 15 May at 10:15AM Nepal time, and was on the summit 3 days, 23 hours, and 7 minutes later on 19 May at 9:22AM.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250601080640_1c5cc6fc991307861768f07037ed9d30930fb20f35dbb57dc31c9a92a9e1a885.jpg" data-media-id="editor_2" data-image-id="20250601080640_1c5cc6fc991307861768f07037ed9d30930fb20f35dbb57dc31c9a92a9e1a885" data-rendition-name="original" width="1440" height="1800" loading="lazy" alt="The Everest Industry"> <figcaption>Andrew Ushakov at the summt. Photo: ELITE EXPED</figcaption> </figure>  “I could never find the time for the traditional 40-50 days of acclimatisation,” Ushakov explained matter-of-factly. His ‘Everest Sea-to-Summit’ climb was possible because he spent 400 hours in hypoxic sleep tents over the past four years in New York. However, Ushakov did use ropes already fixed, hired four Nepali guides, helicoptered to Base Camp, and used much more oxygen than an average climber. And after the climb, Ushakov was arrested at Kathmandu airport for being in possession of $20,000 of undeclared cash and spent a night in jail and fined $60,000.&nbsp; The other speedsters were Garth Miller, Alastair Cairns, Anthony Stazicker, and Kev Godlington, all former British Army commandos. They left London and summited five days later on 21 May, and flew right back. They also used hypoxic tents to simulate the thin air high on Everest.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250601080644_90c8dd5cc07b4b43f2989b1dc0c0650ab80f10ebb06680c25a6909c519957bd8.jpg" data-media-id="editor_3" data-image-id="20250601080644_90c8dd5cc07b4b43f2989b1dc0c0650ab80f10ebb06680c25a6909c519957bd8" data-rendition-name="original" width="810" height="668" loading="lazy" alt="The Everest Industry "> <figcaption>All four members of the Furtenbach team at the summit. Photo: Sandro Gromen-Hayes</figcaption> </figure>  But more controversial was their use of xenon gas therapy in a German hospital to ramp up the production of oxygen-carrying haemoglobins in their blood. Xenon is banned by the World Anti-Doping Agency for being performance enhancing in sports. Expedition leader Lukas Furtenbach said this rule does not apply to mountaineering, as it is not a regulated sport like swimming. Nepal has no rules about xenon, but the Department of Tourism said it was launching an ‘investigation’ to decide on future policy since it is difficult to ban xenon, but allow oxygen. The controversy has also divided the mountaineering community, with some climbers saying they just want to maximise their chances of survival. Spending less time on the mountain could make climbing safer by reducing avalanche risk. It would also mean less trash on the mountains, but it would reduce the income of Nepal’s expedition industry. It is also unclear how much of the success was due to xenon therapy and whether the ex-special forces were already in good physical shape.&nbsp; The need for speed hides the fact that climbing in the Himalaya is dangerous business, and climbers cannot sprint to the top just by huffing xenon. But ultra-fast climbs could be charged more, and the revenue generated can be used to establish state-of-the-art rescue operations, and increase pay and insurance for guides. Two other speed chasers this season were Swiss-Ecuadorian Karl Egloff and American Tyler Andrews, both on Everest without oxygen. Andrews choppered to Base Camp to catch a weather window, but turned back from 8,500m due to high winds. Heavy snow and wind also forced Egloff to descend from 7,000m. Slow and steady climbers like Anja Blacha from Germany did make it to the summit without oxygen, while Kami Rita Sherpa broke his own record with his 31st Everest summit as he led a 26-strong Indian Army group. There were 468 permits issued for foreign climbers from 48 expeditions to Everest this spring. Nepal’s other eight-thousanders together had only 17 expeditions. Nepal has more than 1,000 peaks above 6,000m, and has opened only 476 of them for climbing.&nbsp;

The Everest Industry

While Nepal marked <a href="https://nepalitimes.com/news/mt-everest-pvt-ltd">Mt Everest</a> Day on 29 May, on the other side of the planet in the US state of Colorado dozens of Nepalis who have climbed the world’s highest peak multiple times were busy working as chefs and Uber drivers. Among them is Nima Doma Sherpa, who climbed Mt Everest in 2019 after her husband Tshering Wangchu was among 16 crushed by an avalanche on <a href="https://nepalitimes.com/banner/on-thin-ice-in-the-khumbu">the Khumbu Icefall</a> five years earlier. A large serac broke off the West Shoulder of <a href="https://nepalitimes.com/news/the-everest-industry">Mt Everest </a>and fell directly on a group of <a href="https://nepalitimes.com/opinion/more-porters-sick-on-everest-trail">porters and guides</a> making their way up the Icefall at 5,800m. Their bodies were flown by helicopter to Khumjung where Tshering Wangchu was born. He was excited about climbing Mt Everest for the first time.&nbsp; In Khumjung, Nima Doma felt like her own life had also ended. This was the kind of news Sherpa wives, mothers and sisters dreaded every <a href="https://nepalitimes.com/here-now/peak-climbing-season-2025-s4abrxny">mountaineering season</a>. She stayed home for more than two years grieving, but ultimately gathered up all her emotional strength to take care of her 6-year-old son and 3-year-old daughter. Nima had grown up in Khumjung hearing <a href="https://nepalitimes.com/review/stories-of-nepal-s-summiteers">tales of adventure on the mountains </a>from their father, Ang Chubi Sherpa who had climbed Everest in 1993. He used to bring her and her sisters and brother European chocolates after every expedition, and used to tell them that the chocolate bars grew on the mountains. “It was only after we got older did we realise that he told us that chocolates grew in the mountains so we would not worry about him putting himself in harm's way,” Nima Doma recalled with a faraway look at her home in Boulder this week. Nima went to the school that <a href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/commemorating-edmund-hillary-in-nepal,4145">Edmund Hillary</a> opened in Khumjung till Grade 8, and then dropped out to help in the kitchen and <a href="https://nepalitimes.com/here-now/when-yaks-go-so-does-culture">tend yaks</a>. She was married off to Tshering Wangchu, who was also a high altitude guide. When Tshering went on expeditions, Nima also started working as a porter from Namche to Base Camp. It was perhaps her father’s tales of mountains of chocolates that had always attracted her to <a href="https://nepalitimes.com/here-now/knowing-our-mountains-43v4iyvo">the peaks</a>. After her husband was killed ten years ago this month, being a widow with children was not easy for Nima Doma. But she was not alone: there were at least 200 single mothers in <a href="https://nepalitimes.com/here-now/khumbu-since-1950-jaww4qn0">the Khumbu</a>, and 20 of them just in Khumjung whose husbands had been killed in <a href="https://archive.nepalitimes.com/article/nation/tragic-start-to-himalayan-spring-nepal,3695">mountaineering accidents</a>. Some were not even 20 years old, and had children growing up without fathers. But there were also women in the 50s whose husbands had been killed in the 1980s. Nima found sponsors for her children’s education, and moved to Kathmandu. In the capital, Sherpa widows used to meet to help each other. Some of them had joined the Nepal Mountaineering Association (NMA) training for rock and ice climbing. “I decided that it was no use sitting home and crying anymore, after meeting other single mothers I felt less alone,” remembers Nima, who joined the Juniper Foundation and enrolled in an NMA training camp in Manang. There she climbed Chulu East (6,584m) and met Furadiki Sherpa, whose rope-fixing husband had also been <a href="https://nepalitimes.com/news/on-mt-everest-s-70th-records-and-fatalities">killed on Everest</a> in 2013. They set themselves the goal of climbing Everest one day, and started a fund-raising drive.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250530090544_621be0724b9182c8e3594b2c562a71ec32ac01d985a71d0cf31646de9d51e15a.png" data-media-id="editor_12" data-image-id="20250530090544_621be0724b9182c8e3594b2c562a71ec32ac01d985a71d0cf31646de9d51e15a" data-rendition-name="original" width="2678" height="1274" loading="lazy" alt="Everest summiteers find new life in the US"> </figure>  “We decided we had to overcome society’s stigma of <a href="https://archive.nepalitimes.com/article/nation/widows-personal-happiness-comes-last-in-face-of-social-financial-hardships,1855">widowhood</a> and prove that <a href="https://nepalitimes.com/here-now/remembering-junko-tabei">women could also climb mountains</a>,” Nima said, adding that she was inspired by Nepal’s first woman Everest summiteer Pasang Lhamu Sherpa, who died during her descent in 1993. Nima Doma and Furdiki climbed the technically-difficult Ama Dablam (6,812m) and then arrived at Everest Base Camp in April 2019 as part of their Two Widows Expedition with the motto, ‘So Can We’. While climbing up the Icefall Nima passed the spot where her husband had been killed. It was a jumble of constantly-shifting ice blocks bigger than houses. She closed her eyes and said a prayer. “I remember thinking, this is so difficult and dangerous. This is what my husband had to do to support our family,” Nima Doma said. “I was determined to fulfil my husband’s dream of climbing Chomolungma, and to prove to ourselves that we two women could do it.” It was 23 May 2019 when <a href="https://www.reuters.com/article/world/two-sherpa-widows-scale-everest-and-smash-stigma-idUSKCN1SU0MV/" target="_blank">Nima and Furdiki stepped on the summit</a> and looked over into Tibet, and down at Tengboche Monastery to the south.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250530090544_6b822582b5d88ba5e972db084f184690b40653c6efd9901b2dd082ffba2a263b.png" data-media-id="editor_16" data-image-id="20250530090544_6b822582b5d88ba5e972db084f184690b40653c6efd9901b2dd082ffba2a263b" data-rendition-name="original" width="2700" height="1522" loading="lazy" alt="Everest summiteers find new life in the US"> </figure>  Nima Doma hugged Furdiki, took off her mask and wept. But for the first time in five years, it was not from grief but relief — relief for being free of all the sadness and sacrifices and for fulfilling her husband’s dream. They had found <a href="https://nepalitimes.com/here-now/life-after-death">life after death</a>. “I felt this immense joy to be on top of the world, it was indescribable,” Nima Doma said, “I have wept only twice in my life. Once when my husband died, and once there on top of Everest.” The tears had frozen on Nima Doma’s cheeks, as she and Furdiki headed back down the mountain.