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Money used in Nepal or the currency is known as Nepalese Rupee and represented by NPR or Rs. One rupee is divided into 100 paisa (p). The country’s central bank, Nepal Rashtra Bank controls the issuance of the currency. While currency notes come in denominations of 5, 10, 20, 50, 100, 500 and 1000, coins come in the denominations of 1 and 2. Not very long back, paper notes were also available in the denominations of 1 and 2, which have now become almost extinct. In the 90’s, government of Nepal introduced paper notes in the denominations of 25 and 250, but those did not last for long.
During the era of the monarchs, all the currency notes had the picture of the king on one side of the note. But, after the abolition of the monarchy in 2008, the king’s photograph has been replaced by images of Mt. Everest, the highest mountain in the world.
The official exchange rates of foreign currencies into Nepalese rupees are set by Nepal Rashtra Bank and printed on the daily national newspapers. However, the exchange rates in the private banks will slightly vary from the official figures. Our currency rankings show that the most popular Nepali Rupee exchange rate is the NPR to GB£ rate.