Nepalese rupee

Nepalese rupee
रूपैयाँ (Nepali)
500 rupee banknote
ISO 4217 code	NPR
Official user(s)	Nepal
Unofficial user(s)	India Used near India - Nepal border areas along side (alongside Indian rupee)
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
Freq. used	Rs. 5, Rs. 10, Rs. 20, Rs. 25 Rs. 50, Rs. 100, Rs. 500, Rs. 1000
Rarely used	Re. 1, Rs. 2
Central bank	Nepal Rastra Bank
Website	www.nrb.org.np

The rupee (Nepali: रूपैयाँ) is the official currency of Nepal. The present rupee has the ISO 4217 code NPR and is normally abbreviated with the sign ₨. 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 ₨.

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]

Coins

See also: Nepalese 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 rupaiya..

Banknotes

See also: Nepalese banknotes

A pre-republic note

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. The 1 rupee note has a picture of Ama Dablam, one of the neighbours of Mt. Everest, on its reverse side.

For the 2 rupees with a symbol of Indian god on aside and with mantra on the top on the left is the most valued that can be auction at $39,000 USD and above. This note now readed from the Nepal National Bank only left less then 180 note. The only note that really valued from year 1832-1867.

There are also 25 and 250 rupee notes commemorating the Silver Jubilee of Birendra Bir Bikram Shah in 1997.

Since 2007, Nepalese rupee banknotes have been produced by Perum Peruri, the National Mint Public Company of Indonesia. [2]

Current NPR exchange rates
From Google Finance:	AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD
From OzForex:	AUD CAD CHF EUR GBP HKD JPY USD
From XE.com:	AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com:	AUD CAD CHF EUR GBP HKD JPY USD

See also

• Economy of Nepal
• Nepalese banknotes

References

• Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501. 
• 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