|ISO 4217 code||NPR|
|Central bank||Nepal Rastra Bank|
|Source||The World Factbook, October 2005 est.|
|Symbol||Rs or ₨ or रू.|
|Coins||1, 5, 10, 25, 50 paisa, Re. 1, Rs. 2, Rs. 5, Rs. 10|
|Freq. used||Rs. 5, Rs. 10, Rs. 20, Rs. 25 Rs. 50, Rs. 100, Rs. 500, Rs. 1000|
|Rarely used||Re. 1, Rs. 2|
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. Several other currencies are also called rupee.
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 Nepali. Its value was pegged to the Indian rupee in 1993 at a rate of 1.6 Nepalese rupees = 1 Indian rupee.
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..
On 17 September 1945, the government introduced notes for 5, 10 and 100 rupees, with the name mohru used in Nepalese. Nepal Rastra Bank took over note issuance in 1960. In 1969, 1,000-rupee notes were added, followed by 500 rupees in 1971, and 50 rupees in 1977, and 2 rupees in 1981, after the discontinuation of production of 1-rupee notes. 20-rupee notes were introduced in 1982. 1- and 2-rupee notes are no longer produced, although previously issued ones are still in circulation.
|Current NPR exchange rates|
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- Linzmayer, Owen (2012). "Nepal". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
- Krause, Chester L., and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th 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.