Nepal is famous for its intriguing history, modern tourism, and for being the spiritual home of Buddhism. The Nepalese rupee reflects both the ancient history of Nepal and the country’s ongoing modernisation.
- Nepal Currency Code: NPR
- Nepalese Rupee Symbol: रू
- Subunit: paisa (1/100)
- Coins: 1, 5, 10, 25, 50 paisa, Re. 1, Rs. 2, Rs. 5, Rs. 10
- Banknotes: Rs. 5, Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500, Rs. 1000
- Nepal GDP (nominal): US$24.067 billion
- Central Bank: Nepal Rastra Bank
Nepal Currency History
The Nepalese rupee came into use in 1932. Before this, the silver mohar was used for near on 300 years. The rupee was initially introduced at a value of 1 to 2 mohar, and was later pegged to the Indian rupee in 1993.
Nepalese Rupee Notes and Coins
The dates on rupee coins use the calendar of the Vikram Samvat era, which began more than two millennia ago. One of the main features on the coins is the royal crown, which was (until recently) worn by the King of Nepal. It was meant to symbolize the power of a man who was essentially a personification of the Hindu god Vishnu.
The most recent series of banknotes was introduced in 2012 and is known as the Mount Everest series. While similar to what came before, an English inscription and date of issue were added.
|5 rupees||Lilac, brown and green||Mount Everest; temple of Taleju; obverse of coin||Two yaks grazing; Mount Everest|
|10 rupees||Brown, green and lilac||Mount Everest; Garud Narayan of Changu Narayan temple||Three black bucks grazing; trees; bank logo|
|20 rupees||Orange and brown||Mount Everest; temple of god Krishna of Patan; Garuda atop pillar||Swamp deer; trees; mountain; bank logo|
|50 rupees||Purple, green and blue||Mount Everest; Rama-Janaki temple of Janakpur||Male thar; mountains; bank logo|
|100 rupees||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|
|500 rupees||Brown and violet||Mount Everest; god Indra; Mount Amadablam and Thyangboche monastery; wood carvings; clouds||Two tigers drinking melted snow|
|1,000 rupees||Blue and gray||Mount Everest, Swayambhunath stupa & Harati temple||Elephant|
Value of the NPR
The Nepalese rupee is pegged to the Indian rupee at a rate of 1.6 NPR to 1 INR. As such, its exchange rate is determined by factors related to the Indian economy and currency.
Economy of Nepal
Nepal was a relatively late country to industrialize, with true modernization starting around the 1950’s. To grow GDP the government regularly uses ‘5 year plans’, which are far reaching programs that seek to improve employment, infrastructure, and other important aspects of the economy.
Despite modernization, agriculture remains hugely important, as it makes up 37% of GDP and employs 70% of the population. Exports such as carpets and garments are also an important and growing industry. While the country has made great strides, there is a long way to go to improve the overall quality of life through social and economic development.
While a peg to the Indian rupee takes management of the currency out of the hands of the Central Bank, Nepal focuses heavily on building up its developing economy.
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