KATHMANDU, Oct 3: Nepal Rastra Bank (NRB) has sent new notes worth Rs 22 billion into the banking system for Dashain.
NRB started providing the new notes for the general public from September 14.
Revati Prasad Nepal, Executive Director of NRB Currency Management Department, said that notes of lower denominations worth Rs 12 billion will be exchanged this year during Dashain. He said that new notes of higher denominations (Rs 500 and Rs 1000 notes) worth Rs 10 billion were approved.
He said that banks may demand notes of higher denominations to keep in ATMs as the Dashain holiday is long. Nepal said that this year, new notes of lower and higher denominations worth above Rs 25 billion will go to the market.
He said that last year new notes of lower denominations worth around eight billion rupees were issued, so this year it has increased.