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Nepalese Rupee)
Nepalese rupee
रूपैयाँ (Nepali) |
 |
| 500 rupee banknote |
|
| 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 ₨ or रू. |
| 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) (sign: ₨; code: NPR) 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 ₨.
[edit] 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]
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. The Nepalese rupee has a picture of mt. Everest on it. It is the tallest mountain in the world.
[edit] 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. 1 and 2 rupees notes are no longer produced, although previously issued ones are still in circulation.
There are also 25 and 250 rupee notes commemorating the Silver Jubilee of Birendra Bir Bikram Shah in 1997.
Current NPR exchange rates
[edit] See also
[edit] References
[edit] External links
Nepal
