Nepalese banknotes Nepalese currency Nepali old banknotes.

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• published: 01 Jan 2016
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Nepalese banknotes Nepalese currency Nepali old banknotes. 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 रू. 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 Nepalese rupee is pegged to the Indian rupee. History 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. Banknotes On 17 September 1945, the government introduced notes for 5, 10 and 100 rupees, with the name mohru used in Nepalese.[2] There are also 25- and 250-rupee notes commemorating the Silver Jubilee of Birendra Bir Bikram Shah in 1997.[citation needed] Since 2007, Nepalese rupee banknotes have been produced by Perum Peruri, the National Mint Public Company of Indonesia. Between 1945 and 2007 Nepalese banknotes were issued with the portraits of four different kings. Starting in October 2007 the king’s portrait was replaced by Mount Everest on all notes which have been issued since. 1945 - 1955 The early banknotes which were issued between 1945 and 1955 during the rule of King Tribhuvan were not put into circulation by a Central Bank which did not exist in Nepal at that time. The issuing authority was the treasury which had the name Sadar Muluki Khana. Therefore, the notes of king Tribhuvan were not signed by a bank governor, but by a Kajanchi (head of the treasury) who was a high Hindu priest in the same time. Nepal’s early paper currency probably includes the only notes of the world which were signed by a high priest. These early notes were printed by the Indian Security Press in Nashik and do not have any security features, except for the water marks and the special paper on which they are printed. 1955 - 1972 Starting with King Mahendra who succeeded to his father Tribhuvan in 1955, the banknotes were issued by Nepal Rastra Bank (Nepal National Bank) which was founded in April 1956. The signature of the governors of this institution is found on the banknotes which were issued after this date. Under king Mahendra the Nepalese Government became “His Majesty’s Government” (expressed by "shri 5 ko sarakar" which literally means “the government of the five times honoured”) and remained this way during the rule of Birendra and Gyanendra. Two series of banknotes were issued during the rule of king Mahendra: The first series shows the king in civilian clothes wearing the Nepalese “topi” while on the notes of the second series the king is shown in military uniform. The second series comprised for the first time notes of the high value of 500 and 1000 rupees. 1972 - 2001 During King Birendra’s rule one can also distinguish between two major series of banknotes. The first series features the king wearing 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. 2001 - 2007 The banknotes issued during this period have the same basic design as those of King Birendra whose portrait was simply replaced by that of his younger brother and successor Gyanendra. The low values of 1 and 2 rupees, and the special values of 25 and 250 rupees were not issued any more. The legends found on the last issues of Gyanendra revert to Nepal sarakar (“Nepalese Government”), thus omitting the reference to the king.