If you’re planning to travel to Nepal or send money there, you’ll need to exchange your USD, GBP, EUR, or other currencies for Nepalese rupees (NPR). Here’s a closer look at Nepal’s official currency, its history, and fascinating features.
Nepalese Rupee Basics
The Nepalese rupee (NPR) has been Nepal’s official currency since 1932. Represented by the symbol रु, the NPR is subdivided into 100 paise. It is issued by the Nepal Rastra Bank, Nepal’s central bank.
Currency Denominations
Banknotes:
- Commonly used: रु5, रु10, रु20, रु50, रु100, रु500, रु1,000
- Less frequently used: रु1, रु2, रु25, रु250
Coins:
- Commonly used: रु1 and रु2
- Less frequently used: 1, 5, 10, 25, 50 paise, रु5, and रु10
For context, 1 USD is typically worth around रु120, and 1 EUR is approximately रु130, although exchange rates fluctuate.
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Key Facts About the Nepalese Rupee
NPR is Pegged to the Indian Rupee
The Nepalese rupee replaced the Nepalese mohar in 1932. Its exchange rate is pegged to the Indian rupee (INR), reflecting Nepal’s close economic ties with India.
Before 1994, the peg was set at 1 INR = 1.45 NPR. Since then, the rate has been adjusted to 1 INR = 1.60 NPR, ensuring stability in the NPR’s value relative to its Indian counterpart.
Banknotes Celebrate Nepal’s Heritage
The latest series of banknotes, issued between 2012 and 2017, feature iconic images that highlight Nepal’s cultural, natural, and historical treasures. Each note prominently displays Mount Everest, along with other distinct symbols:
- रु5: Lilac and pink, with the Kasthamandap Temple and a yak
- रु10: Brown and green, featuring Garud Narayan and an antelope
- रु20: Brown and orange, with Krishna Mandir Temple and swamp deer
- रु50: Purple, green, and blue, showing Rama-Janaki temple and a snow leopard
- रु100: Green and lilac, with Taleju Temple and a one-horned rhinoceros
- रु500: Brown and violet, featuring the god Indra, Mount Amadablam, and a tiger
- रु1,000: Blue and gray, with the Swayambhunath stupa and Asian elephants
Color-Coded Banknotes Aid Identification
Each denomination of Nepalese rupee banknotes has a distinct color scheme, making them easy to identify. These vibrant designs not only celebrate Nepal’s heritage but also enhance usability for locals and visitors alike.
Coins Made from WWII Bullets
In 1955, Nepal minted 4 paisa coins from spent rifle cartridges used by Gurkha soldiers in World War II. These coins commemorate the bravery and contributions of the Gurkhas in the Pacific theatre of the war.
About Nepal
Nepal is a landlocked country in South Asia, bordered by India to the south and China to the north. Home to approximately 29.14 million people, its capital city is Kathmandu.
Language and Culture
Nepali is the official language, spoken by about 45% of the population, with other languages like Maithili, Bhojpuri, and Newari also widely spoken. Nepal’s rich cultural and artistic heritage is evident in its temples, sculptures, and religious sites, especially in the Kathmandu Valley and around Mount Everest.
Political and Economic Development
- Joined the United Nations in 1955
- Transitioned to a multiparty parliamentary system in 1991
- Declared a democratic republic in 2008 after the monarchy was dissolved
Tourism plays an increasingly significant role in Nepal’s economy, particularly in the Kathmandu Valley and among adventurers visiting Mount Everest.
FAQs About Nepalese Currency
What is the exchange rate for NPR to USD or EUR?
Exchange rates fluctuate daily. On average, 1 USD equals around रु120, and 1 EUR equals approximately रु130.
Are Nepalese coins widely used?
Coins like रु1 and रु2 are common, while smaller denominations like 50 paise are less frequently used.
Why are Mount Everest and temples featured on NPR banknotes?
These designs celebrate Nepal’s natural beauty, cultural heritage, and religious significance.
Is the Nepalese rupee stable?
The NPR is pegged to the Indian rupee at a stable rate of 1 INR = 1.60 NPR, providing consistency in its value.
How can I send money to Nepal?
Services like Remitly offer secure and affordable international money transfers to Nepal, with competitive exchange rates.
