The Nepalese Rupee is the official currency of Nepal. Its symbol is NPR. It is pronounced as Rupaiya (रूपैयाँ) in Nepali. There are a hundred paisas in one Nepalese rupee.
Here are some interesting facts on the currency of Nepal that you might not know.
1. According to history, King Mandeva was the person to introduce the first currency in Nepal. This currency used to be called Manaka. Anushvarama, Narendra Dev gave continuity to this currency. This facilitated the exchange of goods. At that time, the currency was made from clay and skin of animals. But, it was improved during the Malla period.
2. King Mahendra Malla was the first person to introduce silver currency in Nepal. This currency used to be called Mahendra Malli.
3. The paper note came into existence very late in Nepal. It was started in 2002 only.
4. Himalaya Shamsher Jabara was the first governor of Central Bank of Nepal. The interesting fact is that he didn’t sign the first paper currency of Nepal.
5. Janakraj Pandit, the treasurer of the Sadar Muluki Khana was the first person to sign the first paper currency of Nepal. It is believed that the paper currency of Rupees One, Five and Ten was released during his tenure.
6. The first paper currency of Nepal was released in 2002 during the tenure of three treasurers Jankraj Pandit, Bharatraj Pandit, and Narendra Raj. This was before the establishment of Central Bank of Nepal.
7. Rupees one was released in 2009 during the tenure of Narendra Raj.
8. Nepalese currency used to be called Moru (Mohar Rupaiya) until the establishment of Central Bank.
9. The central bank of Nepal was established in 2013. It is called as Nepal Rasta Bank in the Nepali language.
10. Indian currency was parallelly used with Nepalese currency until 2013. A policy to increase the use of Nepalese currency in Nepal was formulated in 2014. It was implemented in major parts of the country from Baisakh 01, 2017.10. The paper currency of Rupees One Thousand was released in 2026 for the first time in Nepal.
11. The paper currency of five hundred rupees was released in 2028 for the first time in Nepal.
12. The exchange rate of NPR. One hundred sixty (160) was fixed to INR. One hundred sixty (100) in 2017, Baisakh 1.
13. After the Foreign Exchange Control Act, 2019 came into effect on 2023, Nepalese rupees only became valid for transactions in Nepal removing the Indian Currency.
14. The paper currencies printed through the National Bank of Nepal came into effect from 2016.