NPR 5 | Bank Note | Five Rupee | Kae Kae | CurrencyStackerKK | Nepal | Asia

NPR 5 | Bank Note | Five Rupee | Kae Kae | CurrencyStackerKK | Nepal | Asia

5 Nepal Rupee

The Nepalese Rupee (Nepali: रुपैयाँ; symbol: रु, ₨; 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. The Nepalese rupee (रु) is 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.

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.

During [1945–1955]- Rupees in Nepal and Pakistan were worth the same amount. Early banknotes which were issued between 1945 and 1955 during the rule of King Tribhuvan were put into circulation by the Sadar Muluki Khana (The Treasury) as Nepal did not have a Central Bank at that time. Notes issued under the reign of King Tribhuvan were therefore not signed by a bank governor, but by a Kajanchi (Head of the Treasury) who also serves as a Hindu high priest. As such, Nepal’s early paper currency probably include the only banknotes in 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 watermarks and the special paper on which they are printed.

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