KATHMANDU, Sept 11: Nepal Rastra Bank (NRB) will issue clean notes instead of new notes for the first time.
The NRB will exchange clean notes for Dashain starting from September 13. These notes can be exchanged at the central office of the NRB, provincial offices, and other banks.
NRB set to distribute new currency notes for Dashain festival
As in the past, clean notes can be exchanged for up to Rs 18,500. A bundle of notes in denominations of Rs 5, 10, 20, 50, and 100 can be exchanged.
In 2015/16 BS, the NRB began issuing and distributing new notes to enhance the circulation of Nepali currency. This initiative was introduced as the economy shifted from urban to rural areas during Dashain.
This approach has significantly contributed to increasing the circulation of Nepali currency within the country, especially as general consumption rises during Dashain. Currently, the cost of printing a note ranges from approximately Rs 1.40 to Rs 4.68.
Due to the misuse of notes, which causes them to wear out quickly and necessitates the printing of new notes, the country incurs an average annual cost of Rs 840 million. With this in mind, the NRB has decided not to issue new notes. Instead, it will distribute the existing clean notes already in circulation.
