New banknotes can be exchanged till Friday

Published On: October 16, 2023 03:16 PM NPT By: Republica  | @RepublicaNepal

NRB urges for careful use of notes

KATHMANDU, Oct 16: Nepal Rastra Bank (NRB) has announced that new banknotes distribution targeted for the festival will continue till Friday.

The NRB has initiated the distribution of new currency notes from today, and this service will be available until next Friday, as is the practice every year for the Dashain-Tihar festival. NRB Executive Director Naresh Man Shakya mentioned that individuals can exchange new banknotes at the rate of Rs 18,500.

He has asked the general public to use the notes with care, to prolong the life of the notes.

Stating that it is necessary for the general public to use the electronic transaction system including QR code as much as possible, he said that the NRB is ready to reduce the circulation of notes through other measures such as digital currency in the future.

Compared to the previous years, this year the NRB has arranged to distribute notes only from limited branches of commercial banks. The NRB has also issued a list of branches that provide this service. One bundle of Rs 5, Rs 10, Rs 20, Rs 50, and one bundle of Rs 100 will be provided while exchanging.


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