Nepalese rupee
रुपैयाँ (Nepali) | |
---|---|
ISO 4217 | |
Code | NPR (numeric: 524) |
Subunit | 0.01 |
Unit | |
Symbol | रु. |
Denominations | |
Subunit | |
1⁄100 | Paisa |
Banknotes | |
Freq. used | रु. 5, रु. 10, रु. 20, रु. 50, रु. 100, रु. 500, रु. 1000 |
Rarely used | रु. 1, रु. 2, रु. 25, रु. 250 |
Coins | |
Freq. used | रु. 1, रु. 2 |
Rarely used | 1, 5, 10, 25, 50 paisa, रु. 5, रु. 10 |
Demographics | |
Date of introduction | 1932 |
Replaced | Nepalese mohar |
User(s) | Kingdom of Nepal (1932–2008) Federal Democratic Republic of Nepal (2008–present) |
Issuance | |
Central bank | Nepal Rastra Bank |
Website | www |
Valuation | |
Inflation | 3.6% (2021) |
Source | Statista |
Pegged with | Indian rupee (₹)[1] ₹1 = रु.1.60 (buy) ₹1 = रु.1.6015 (sell) |
The Nepali rupee (
The Nepali rupee (रु.) has been
History
The rupee was introduced in 1932, replacing the silver mohar at a rate of 2 mohar = 1 rupee. At first, the rupee was called the Mohru in Nepali.[2]
The "Bullet paisa"
In 1955, 4 Paisa coins were minted, made from rifle cartridge cases from World War II that were used by the Gurkha soldiers who fought against the Imperial Japanese in the Pacific. The coins were produced by removing the primer from the cases and the cases were then converted into the 4 Paisa coins to commemorate the Gurkha's courage and victory during the war.
Due to the small number of cases found, these coins were minted for one year only.[citation needed]
They are known as the "Nepal Bullet Paisa".[4][5]
1972–2007
During King
2007–Present
In October 2007, a 500-rupee note was issued on which the king's portrait was replaced by Mount Everest. This reflects the historic change from a monarchy to a republic which took place in May 2008 in Nepal. Further notes of 5, 10, 20, 50, 100 and 1000 rupees with Mount Everest and without reference to the king in their legends followed in 2008. The first issues of the 500- and 1000-rupee notes were printed on paper which still had the king's crowned portrait as a watermark in the "window" on the right part of the face of the notes. It was decided to print a red Rhododendron flower (Nepal's national flower) on top of the watermark. Notes of these denominations which were issued in 2009 and thereafter are printed on paper which has a Rhododendron flower as watermark instead of the royal portrait and were therefore released without the additional overprint in red.
Banknotes
On 17 September 1945, the government introduced
In 2012, Nepal Rastra Bank issued a revised banknote series that is similar to the 2007 series, but now include inscriptions in English and the year of issue on the back.
Image | Value (rupees) |
Main colours | Description | Date of issue | ||
---|---|---|---|---|---|---|
Obverse | Reverse | Obverse | Reverse | |||
5 | Lilac and pink | Mount Everest; temple of Taleju; obverse of coin | Two yaks grazing; Mount Everest | 2012 | ||
Mount Everest; Kasthamandap Temple | Yak | 2017 | ||||
10 | Brown and green | Mount Everest; Garud Narayan of Changu Narayan temple | Three blackbucks grazing; trees; bank logo | 2012 | ||
Antelope; trees; bank logo | 2017 | |||||
20 | Orange and brown | Mount Everest; temple of god Krishna of Patan; Garuda atop pillar | Swamp deer; trees; mountain; bank logo | 2012 | ||
Sambar deer; trees; mountain; bank logo | 2016 | |||||
50 | Purple, green and blue | Mount Everest; Rama-Janaki temple of Janakpur | Male tahr; mountains; bank logo | 2012 | ||
Snow leopard; bank logo | 2016 | |||||
100 | Green and lilac | Mount Everest; Mayadevi inside silver metallic oval; map of Nepal; Ashoka pillar; wood carvings from temple of Taleju in Kathmandu; description "Lumbini – Birthplace of Lord Buddha" |
One-horned rhinoceros in grassy plain; bank logo | 2012 | ||
One-horned rhinoceros and its offspring in grassy plain; bank logo | 2015 | |||||
500 | Brown and violet | Mount Everest; god Indra; Mount Amadablam and Thyangboche monastery; wood carvings; clouds | Two tigers drinking melted snow | 2012 | ||
Tiger | 2016 | |||||
1,000 | Blue and gray | Mount Everest, Swayambhunath Stupa & Harati temple | Asian elephant | 2013 | ||
Twin Asian Elephants | 2019 | |||||
For table standards, see the banknote specification table. |
Exchange rates
Between 1857 and 1930, the Nepalese rupee (two half-rupees or mohars
Between 1955 and 1957, there was a series of soft peg revaluations that started at रु1.755 = ₹1 and appreciated to रु1.305 = ₹1 by 1957. In 1958, the government applied a new exchange rate of रु1.505 = ₹1 for the purchase of plane tickets only. A hard peg of रु1.60 = ₹1 was instituted in 1960, which was revalued to रु1.0155 = ₹1 when the Indian rupee was sharply devalued on 6 June 1966.[2] The Indian rupee ceased to be legal tender in Nepal in 1966.[2]
From 1967 to 1975, the government pegged the Nepalese rupee against the Indian rupee, the US dollar and gold, starting at रु1.35 = ₹1, रु10.125 = US$1 and रु1 = 0.08777g gold. By the time the gold peg was removed in 1978, the exchange rate was रु1.39075 = ₹1, रु12.50 = $1 and रु1 = 0.0808408g gold.[2]
In 1983, the Nepali rupee's anchor was changed to a trade-weighted basket of currencies, which in practice amounted to a hard peg against the Indian rupee. This remained until 1993, when the peg was officially set at रु1.60 = ₹1.[2]
See also
Current NPR exchange rates | |
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From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD INR EUR JPY |
From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD INR EUR JPY |
From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD INR EUR JPY |
From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD INR EUR JPY |
References
- ^ "Nepal Rastra Bank". nrb.org.np. Archived from the original on 25 March 2019. Retrieved 13 June 2016.
- ^ a b c d e f g h Schuler, Kurt (2004-02-29). "Tables of Modern Monetary History: Asia". Archived from the original on 2007-02-19. Retrieved 2007-03-11.
- ^ "'Nepal to keep currency pegged to Indian rupee' | Business Line". Thehindubusinessline.com. 2018-01-11. Archived from the original on 2020-03-10. Retrieved 2019-05-13.
- ^ "4 Paisa - Tribhuvana Bir Bikram". Numista › Coins › Nepal › Nepal, 4 Paisa - Tribhuvana Bir Bikram. 18 February 2021. Archived from the original on 27 October 2022. Retrieved 18 February 2021.
- ^ Collector Club - La casa del collezionismo, I semestre 2021, inserto, pag 6 "La moneta proiettile".
- ^ Linzmayer, Owen (2012). "Nepal". The Banknote Book. San Francisco, California.
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ignored (help)CS1 maint: location missing publisher (link) - ^ "Golden Jubilee Publications-Notes and Coins of Nepal" (PDF). www.nrb.org.np/. Archived (PDF) from the original on 2021-11-10. Retrieved 2021-11-10.
- ^ "Archived copy". Archived from the original on 2017-05-08. Retrieved 2010-05-05.
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: CS1 maint: archived copy as title (link) - ISBN 9780842606561.
The Nepalese half rupee was given the name of 'Mohar' because it bore the seal of the King.
Sources
- Krause, Chester L.; Clifford Mishler (1991). ISBN 0873411501.
- Pick, Albert (1994). ISBN 0-87341-207-9.
- Agrawal (Giriya), Shyam and Gyawali, Kamal Prasad: Notes and Coins of Nepal. Nepal Rastra Bank Golden Jubilee Year 2005–06, Kathmandu, 2006.
- Bertsch, Wolfgang: "The Legends on the Banknotes of Nepal", International Banknote Society (IBNS) Journal, vol. 48, no. 3, 2009, p. 39–44.
- Jha, Hari Jaya: An Overview of Nepalese Paper Money. Manjeeta Jha, Lalitpur (Patan), B.S. 2058 (= A.D. 2001).
- Lorenzoli, Giovanni: "Nepali artistic buildings as seen on Nepali notes". Journal of the International Banknote Society, vol. 43, no. 3 (2004), p. 6–14.
- Shrestha, Ramesh: Nepalese Coins & Bank Notes (1911 to 1955). Kazi Mudhusudan Raj Bhandary, Kathmandu, 2007.
- Wittmann, Hans: Die Banknoten des Königreichs Nepal. Unpublished, Wiesbaden, 2002.
Further reading
- Otto, Heiko. "Historical and Current Banknotes of Nepal". Retrieved 2022-05-12.