The Nepalese rupee (रु) has been pegged to the Indian rupee (₹) at the rate रु1.60 = ₹1 since 1994; prior to this, it had been pegged at the rate रु1.45 = ₹1.[2]
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.[3]
The "Bullet paisa"Edit
Nepal, 4 Paisa 1955 - 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 their courage and victory during the war.
Due to the small number of cases found, these coins were minted for one year only.[citation needed]
During King Birendra’s rule, one can also distinguish between two major series of banknotes. The first series features the king wearing the military uniform while on the notes of the second series the king is wearing the traditional Nepalese crown adorned with feathers of the bird of paradise. During this period regular banknotes of 2 and 20 rupees and special banknotes of 25 and 250 rupees were issued for the first time. The legends found on the last issues of Gyanendra revert to Nepal sarkar ("Nepalese government"), thus omitting the reference to the king.
2007–PresentEdit
One rupee coin (2005)One rupee coin (2009)
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 kingdom 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.
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.
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"
Between 1857 and 1930, the Nepalese rupee (two half-rupees or mohars[9]) was fixed at 1.28 per Indian rupee.[3] After this period, its value fluctuated against the Indian rupee, falling to रु1.60 = ₹1 in 1939, rising to रु0.60 = ₹1 during the Second World War and falling again afterwards. In 1952, the government of Nepal officially pegged the Nepalese rupee at रु1.28 = ₹1, although the market rate remained at रु1.60 = ₹1.[3]
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.[3] The Indian rupee ceased to be legal tender in Nepal in 1966.[3]
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.[3]
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.[3]
^"Golden Jubilee Publications-Notes and Coins of Nepal" (PDF). www.nrb.org.np/.
^. Archived from the original on 2017-05-08. Retrieved 2010-05-05.{{cite web}}: CS1 maint: archived copy as title (link)
^Rawat, Pooran Chand (1974). Indo-Nepal Economic Relations. Lawrence Verry Incorporated. p. 130. ISBN9780842606561. The Nepalese half rupee was given the name of 'Mohar' because it bore the seal of the King.
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 readingEdit
Otto, Heiko. "Historical and Current Banknotes of Nepal". Retrieved 2022-05-12.
nepalese, rupee, nepali, symbol, code, official, currency, federal, democratic, republic, nepal, subdivided, into, paisa, issuance, currency, controlled, nepal, rastra, bank, central, bank, nepal, introduced, 1932, when, replaced, nepalese, mohar, rate, citati. The Nepalese rupee Nepali र प य symbol र code NPR is the official currency of the Federal Democratic Republic of Nepal The Nepalese rupee is subdivided into 100 paisa The issuance of the currency is controlled by the Nepal Rastra Bank the central bank of Nepal The Nepalese rupee was introduced in 1932 when it replaced the Nepalese mohar at the rate 2 1 citation needed Nepalese rupeeर प य Nepali ISO 4217CodeNPR numeric 524 Subunit0 01UnitSymbolर DenominationsSubunit 1 100PaisaBanknotes Freq usedर 5 र 10 र 20 र 50 र 100 र 500 र 1000 Rarely usedर 1 र 2 र 25 र 250Coins Freq usedर 1 र 2 Rarely used1 5 10 25 50 paisa र 5 र 10DemographicsDate of introduction1932User s Kingdom of Nepal 1932 2008 Federal Democratic Republic of Nepal 2008 present IssuanceCentral bankNepal Rastra Bank Websitewww wbr nrb wbr org wbr npValuationInflation3 6 2021 SourceStatistaPegged withIndian rupee 1 1 र 1 60 buy 1 र 1 6015 sell The Nepalese rupee र has been pegged to the Indian rupee at the rate र 1 60 1 since 1994 prior to this it had been pegged at the rate र 1 45 1 2 Contents 1 History 1 1 The Bullet paisa 1 2 1972 2007 1 3 2007 Present 2 Banknotes 3 Exchange rates 4 See also 5 References 6 Sources 7 Further readingHistory EditThe 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 3 The Bullet paisa Edit nbsp nbsp Nepal 4 Paisa 1955 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 their 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 Edit nbsp Five rupees coin BS 2053 During King Birendra s rule one can also distinguish between two major series of banknotes The first series features the king wearing the military uniform while on the notes of the second series the king is wearing the traditional Nepalese crown adorned with feathers of the bird of paradise During this period regular banknotes of 2 and 20 rupees and special banknotes of 25 and 250 rupees were issued for the first time The legends found on the last issues of Gyanendra revert to Nepal sarkar Nepalese government thus omitting the reference to the king 2007 Present Edit nbsp One rupee coin 2005 nbsp One rupee coin 2009 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 kingdom 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 EditMain article Nepalese banknotes On 17 September 1945 the government introduced banknotes for 5 10 and 100 rupees with the name mohru used in Nepalese 6 There are also 250 rupee notes commemorating the Silver Jubilee of Birendra Bir Bikram Shah in 1997 citation needed 7 Since 2007 Nepalese rupee banknotes have been produced by Perum Peruri the mint company of Indonesia 8 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 2012 Mount Everest series current Image Value rupees Main colours Description Date ofissueObverse Reverse Obverse Reverse5 Lilac and pink Mount Everest temple of Taleju obverse of coin Two yaks grazing Mount Everest 2012Mount Everest Kasthamandap Temple Yak 201710 Brown and green Mount Everest Garud Narayan of Changu Narayan temple Three blackbucks grazing trees bank logo 2012Antelope trees bank logo 201720 Orange and brown Mount Everest temple of god Krishna of Patan Garuda atop pillar Swamp deer trees mountain bank logo 2012Sambar deer trees mountain bank logo 201650 Purple green and blue Mount Everest Rama Janaki temple of Janakpur Male tahr mountains bank logo 2012Snow leopard bank logo 2016100 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 2012One horned rhinoceros and its offspring in grassy plain bank logo 2015500 Brown and violet Mount Everest god Indra Mount Amadablam and Thyangboche monastery wood carvings clouds Two tigers drinking melted snow 2012Tiger 20161 000 Blue and gray Mount Everest Swayambhunath Stupa amp Harati temple Asian elephant 2013Twin Asian Elephants 2019For table standards see the banknote specification table Exchange rates EditBetween 1857 and 1930 the Nepalese rupee two half rupees or mohars 9 was fixed at 1 28 per Indian rupee 3 After this period its value fluctuated against the Indian rupee falling to र 1 60 1 in 1939 rising to र 0 60 1 during the Second World War and falling again afterwards In 1952 the government of Nepal officially pegged the Nepalese rupee at र 1 28 1 although the market rate remained at र 1 60 1 3 Between 1955 and 1957 there was a series of soft peg revaluations that started at र 1 755 1 and appreciated to र 1 305 1 by 1957 In 1958 the government applied a new exchange rate of र 1 505 1 for the purchase of plane tickets only A hard peg of र 1 60 1 was instituted in 1960 which was revalued to र 1 0155 1 when the Indian rupee was sharply devalued on 6 June 1966 3 The Indian rupee ceased to be legal tender in Nepal in 1966 3 From 1967 to 1975 the government pegged the Nepalese rupee against the Indian rupee the US dollar and gold starting at र 1 35 1 र 10 125 US 1 and र 1 0 08777g gold By the time the gold peg was removed in 1978 the exchange rate was र 1 39075 1 र 12 50 1 and र 1 0 0808408g gold 3 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 र 1 60 1 3 See also EditCrore Economy of Nepal Nepalese coinsCurrent NPR exchange ratesFrom Google Finance AUD CAD CHF CNY EUR GBP HKD JPY USD INR EUR JPYFrom Yahoo Finance AUD CAD CHF CNY EUR GBP HKD JPY USD INR EUR JPYFrom XE com AUD CAD CHF CNY EUR GBP HKD JPY USD INR EUR JPYFrom OANDA AUD CAD CHF CNY EUR GBP HKD JPY USD INR EUR JPYReferences Edit Nepal Rastra Bank nrb org np Retrieved 13 June 2016 Nepal to keep currency pegged to Indian rupee Business Line Thehindubusinessline com 2018 01 11 Retrieved 2019 05 13 a b c d e f g Schuler Kurt 2004 02 29 Tables of Modern Monetary History Asia Archived from the original on 2007 02 19 Retrieved 2007 03 11 4 Paisa Tribhuvana Bir Bikram Numista Coins Nepal Nepal 4 Paisa Tribhuvana Bir Bikram 18 February 2021 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 a href Template Cite book html title Template Cite book cite book a website ignored help CS1 maint location missing publisher link Golden Jubilee Publications Notes and Coins of Nepal PDF www nrb org np Archived copy Archived from the original on 2017 05 08 Retrieved 2010 05 05 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link Rawat Pooran Chand 1974 Indo Nepal Economic Relations Lawrence Verry Incorporated p 130 ISBN 9780842606561 The Nepalese half rupee was given the name of Mohar because it bore the seal of the King Sources EditKrause Chester L 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 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 amp Bank Notes 1911 to 1955 Kazi Mudhusudan Raj Bhandary Kathmandu 2007 Wittmann Hans Die Banknoten des Konigreichs Nepal Unpublished Wiesbaden 2002 Further reading EditOtto Heiko Historical and Current Banknotes of Nepal Retrieved 2022 05 12 Portals nbsp Asia nbsp Money nbsp Nepal nbsp Numismatics Retrieved from https en wikipedia org w index php title Nepalese rupee amp oldid 1177314286, wikipedia, wiki, book, books, library,
