KATHMANDU, Oct 16: After Nepal Rastra Bank (NRB) started providing crisp new paper notes for the Dashain festival, street vendors are busy in exchanging new notes with old ones. They are making good money from the exchange since a week.
The central bank started distributing new notes for the general public since October 7. The vendors were the first to queue up for the new notes.
The bank has made available new notes of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 denominations. An individual can get new notes up to Rs 30,000.
New notes are essential during Dashain as elder members of a family give the new notes to the younger ones while giving them blessings.
Vendors interviewed by Republica say they charge 10 percent additional money for exchanging new rupees with old ones.
“We charge additional 10 percent from exchanging the new notes. Today, I exchanged Rs 10,000,” said a man from Dhading, who was exchanging new notes at Sundhara.
Exchange of new notes was visible in Ratnapark, Sundhara, Asan and Baneshwar areas.
During the Dashain rush, people cannot stand in queue for long time so they exchange money with the vendors.
The vendors are not prohibited from selling new notes till Fulpati, said one of vendors. But after Fulpati, if anyone is seen selling notes, they will be charged for black marketing, the vendor added.