The Nepali rupee (Nepali: रुपैयाँ; symbol: रु॰; code: NPR) is the official currency of the Federal Democratic Republic of Nepal. The Nepali rupee is subdivided into 100 paisa. The issuance of the currency is controlled by the Nepal Rastra Bank, the central bank of Nepal. The Nepali rupee was introduced in 1932 when it replaced the Nepalese mohar at the rate 2:1.^{[citation needed]}

Quick Facts रुपैयाँ (Nepali), ISO 4217 ...

Nepalese rupee

रुपैयाँ (Nepali)
ISO 4217
Code	NPR (numeric: 524)
Subunit	0.01
Unit
Symbol	रु‎
Denominations
Subunit
1⁄100	Paisa
Banknotes
Freq. used	रु5, रु10, रु20, रु50, रु100, रु500, रु1000
Rarely used	रु1, रु2, रु25, रु250
Coins
Freq. used	रु1, रु2
Rarely used	1, 5, 10, 25, 50 paisa, रु5, रु10
Demographics
Date of introduction	1932
User(s)	Kingdom of Nepal (1932–2008)    Federal Democratic Republic of Nepal (2008–present)
Issuance
Central bank	Nepal Rastra Bank
Website	www.nrb.org.np
Valuation
Inflation	3.6% (2021)
Source	Statista
Pegged with	Indian rupee (₹)[1] ₹1 = रु1.60 (buy) ₹1 = रु1.6015 (sell)

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The Nepali rupee (रु) has been pegged to the Indian rupee (₹) at the rate रु1.60 = ₹1 since 1994; prior to this, it had been pegged at the rate रु1.45 = ₹1.^[2]

The rupee was introduced in 1932, replacing the silver mohar at a rate of 2 mohar = 1 rupee. At first, the rupee was called the Mohru in Nepali.^[3]

On 17 September 1945, the government introduced banknotes for 5, 10 and 100 rupees, with the name mohru used in Nepalese.^[6] There are also 250-rupee notes commemorating the Silver Jubilee of Birendra Bir Bikram Shah in 1997.^{[citation needed][7]} Since 2007, Nepalese rupee banknotes have been produced by Perum Peruri, the mint company of Indonesia.^[8]

In 2012, Nepal Rastra Bank issued a revised banknote series that is similar to the 2007 series, but now include inscriptions in English and the year of issue on the back.

Between 1857 and 1930, the Nepalese rupee (two half-rupees or mohars^[9]) was fixed at 1.28 per Indian rupee.^[3] After this period, its value fluctuated against the Indian rupee, falling to रु1.60 = ₹1 in 1939, rising to रु0.60 = ₹1 during the Second World War and falling again afterwards. In 1952, the government of Nepal officially pegged the Nepalese rupee at रु1.28 = ₹1, although the market rate remained at रु1.60 = ₹1.^[3]

Between 1955 and 1957, there was a series of soft peg revaluations that started at रु1.755 = ₹1 and appreciated to रु1.305 = ₹1 by 1957. In 1958, the government applied a new exchange rate of रु1.505 = ₹1 for the purchase of plane tickets only. A hard peg of रु1.60 = ₹1 was instituted in 1960, which was revalued to रु1.0155 = ₹1 when the Indian rupee was sharply devalued on 6 June 1966.^[3] The Indian rupee ceased to be legal tender in Nepal in 1966.^[3]

From 1967 to 1975, the government pegged the Nepalese rupee against the Indian rupee, the US dollar and gold, starting at रु1.35 = ₹1, रु10.125 = US$1 and रु1 = 0.08777g gold. By the time the gold peg was removed in 1978, the exchange rate was रु1.39075 = ₹1, रु12.50 = $1 and रु1 = 0.0808408g gold.^[3]

In 1983, the Nepali rupee's anchor was changed to a trade-weighted basket of currencies, which in practice amounted to a hard peg against the Indian rupee. This remained until 1993, when the peg was officially set at रु1.60 = ₹1.^[3]

• Crore
• Economy of Nepal
• Nepalese coins