Which currency is Nepal’s official money and is issued by Nepal Rastra Bank?

The Nepalese rupee is Nepal’s official currency and is issued by Nepal Rastra Bank.

The rupee became Nepal’s principal monetary unit during the modern development of the country’s financial system. Nepal Rastra Bank, established in 1956, serves as the nation’s central bank and has authority over the issue and management of Nepalese currency. The rupee’s ISO 4217 code is NPR.

The currency is subdivided into 100 paisa, although paisa coins are not commonly encountered in everyday transactions. Nepalese banknotes feature national symbols, historic figures and images associated with the country’s geography and cultural heritage. The currency symbol is often written as रु or Rs.

The Nepalese rupee should not be confused with the Indian rupee, even though Nepal and India have close economic ties and the two currencies have a regulated exchange relationship. Nepal also uses its own banknotes and coins, issued under Nepalese monetary authority.