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Encyclopedia > Nepalese rupee
Nepalese rupee
रूपैयाँ (Nepali)
₨1
₨1
ISO 4217 Code NPR
User(s) Nepal
Inflation 7.8%
Source The World Factbook, October 2005 est.
Pegged with Indian rupee = 1.6 Nepalese rupees
Subunit
1/100 paisa
Symbol Rs or ₨
Coins 1, 5, 10, 25, 50 paisa, Re. 1, Rs. 2, Rs. 5, Rs. 10
Banknotes Re. 1, Rs. 2, Rs. 5, Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500, Rs. 1000
Central bank Nepal Rastra Bank
Website www.nrb.org.np

The rupee (Nepali: रूपैयाँ) is the official currency of Nepal. It is subdivided into 100 paisa. The issuance of the currency is controlled by the Nepal Rastra Bank. The most commonly used symbol for the Rupee is Rs or ₨. The ISO 4217 code for Nepalese Rupee is NPR. Image File history File links Nepal_One_Rupee_obverse. ... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... ISO 4217 Code INR User(s) India, Bhutan Inflation 5. ... The Nepal Rastra Bank is the Central Bank of the Kingdom of Nepal. ... Nepali (Khaskura) is an Indo-Aryan language spoken in Nepal, Bhutan, and some parts of India and Myanmar (Burma). ... The Nepal Rastra Bank is the Central Bank of the Kingdom of Nepal. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ...

Contents

History

The rupee was introduced in 1932, replacing the silver mohar at a rate of 2 mohar = 1 rupee. Initially, the rupee was called the mohru in Nepalese. Its value was pegged to the Indian rupee in 1993 at a rate of 1.6 Nepalese rupees = 1 Indian rupee.[1] The mohar was the currency of Nepal until 1932. ... ISO 4217 Code INR User(s) India, Bhutan Inflation 5. ...


Coins

In 1932, silver 20 and 50 paisa and 1 rupee coins were introduced, followed by copper 1, 2 and 5 paisa between 1933 and 1935. In the 1940s, copper ¼ and ½ paisa and nickel-brass 5 paisa were added. In 1953, a new coinage was introduced consisting of brass 1, 2 and 4 paisa, bronze 5 and 10 paisa, and cupro-nickel 20, 25 and 50 paisa and 1 rupee. The 20 paisa was discontinued after 1954.


In 1966, aluminium 1, 2 and 5 paisa and brass 10 paisa were introduced. Aluminium 25 paisa coins were introduced in 1982, followed by stainless steel 50 paisa and 1 rupee in 1987 and 1988. In 1994, smaller 10 and 25 paisa coins were issued, alongside aluminium 50 paisa and brass-plated-steel 1, 2, 5 and 10 rupees.


Coin images


Banknotes

In 1951, the government introduced notes for 1, 5, 10 and 100 rupees, with the name mohru used in Nepalese. The State Bank took over note issuance in 1956 and, in its second issue, began using the name rupee in the Nepalese texts. In 1972, 500 and 1000 rupees notes were added, followed by 50 rupees in 1974 and 2 rupees in 1981, after the discontinuation of production of 1 rupee notes (some are still in circulation). 20 rupees notes were introduced in 1982.


There are also 25 and 250 rupee notes commemorating the Silver Jubilee of Birendra Bir Bikram Shah in 1997. A Silver Jubilee is a celebration held to mark a 25th anniversary. ... This December 2006 does not cite its references or sources. ...

Current NPR exchange rates
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See also

An isolated, agrarian society until the mid-20th century, Nepal entered the modern era in 1951 without schools, hospitals, roads, telecommunications, electric power, industry, or civil service. ...

References

  • Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1. 
  • Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues, Colin R. Bruce II and Neil Shafer (editors), 7th ed., Krause Publications. ISBN 0-87341-207-9. 

External links


 
 

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