By Jasreet Kaur16, Oct 2024 07:00 PMjagranjosh.com
Do you know?
The Nepalese Rupee is the official money of Nepal. It is managed by the Nepal Rastra Bank and comes in coins and notes. Tap to read more.
Symbol and Abbreviation
The Nepalese Rupee is symbolized by रू and abbreviated as NPR. This is the official currency used across Nepal for all transactions.
Peg to Indian Rupee
The NPR has been pegged to the Indian Rupee at a fixed exchange rate of 1.6:1 since 1993, facilitating trade and financial exchange.
Nepal Rastra Bank
The Nepal Rastra Bank issues NPR banknotes in denominations ranging from 1 to 1000 rupees, featuring cultural and historical symbols.
Coin Denominations
Nepalese coins are issued in various denominations, starting from one paisa to 100 rupees. These coins represent historical figures and national symbols.
Inflation Impact
Like many currencies, the Nepalese Rupee has faced inflation, affecting daily living costs and reducing the value of savings for Nepalese citizens.
Usage in Border Areas
In border areas of India, the Nepalese Rupee is used frequently due to proximity, especially in markets close to the Nepal-India border.