Nepali currency: – Currency, money – a universal medium of exchange, invented long ago. Different countries have the most varied currencies, the most amazing bills, and coins, but they all share one thing – the purpose of their use. Before the appearance of the first money in the countries of the world, well-known and necessary goods and products were used as currency.
In ancient tribes, the first monetary unit was beautiful pebbles, interesting feathers of birds and somehow processed shells. In the Aztec civilization, animals and their bones were valued as money.
The first money found, dating back to about VII century BC, had the appearance of coins. They were found on the territory of modern Libya. Money made of paper, even in ancient times appeared in China.
The Nepalese rupee ( Nepalese. रूपैयाँ ) is the monetary unit of the state of Nepal, equal to 100 Paisa. The international currency designation is NPR. In the circulation of money are banknotes of 1000, 500, 100, 50, 20, 10, and 5 rupees and coins of 1, 2 and 5 Nepalese rupees. As well as 5, 10, 25 and 50 paise which have become ancient now.
Coins in circulation are almost never used. Before the introduction of the decimal system in 1950, one Paisa following the example. of the British pound was 1/64 of the rupee. The name rupee comes from the Sanskrit word Rupya which means silver.
The economy of Nepal is heavily dependent on neighboring India, and since 1993, the free exchange rate of the currency has been canceled. So the government of the country seemed simpler and more efficient. The Nepalese rupee is rigidly pegged to the Indian currency in the ratio of 1.6 Nepalese rupees = 1 Indian rupee.
The ISO-4217 code is NPR, but in everyday life, the following terms are in use: NR, NRs. It is issued by Nepal Rastra Bank, the central bank of Nepal. The rupee was introduced in Nepal in 1932.
It replaced the silver Mohar (also Mohur ) at an exchange rate of 2 Mohar = 1 Rupee. Damaged banknotes, even with a small tear, are only exchanged in a bank and are no longer accepted as a means of payment in everyday life.
Immediately after the overthrow of the last king Gyanendra and the establishment of a republic in Nepal in 2008, the new authorities began to print new money. But by this time a large amount of watermarked paper with the image of a king had already been ordered.
New money began to be printed right on the old paper, and in place of the watermarks, they placed an image of the national flower of Nepal Rhododendron. If you look closely, the watermark with the face of the king can be seen, then he and the watermark. If you get such a bill in your hands, be sure to study this interesting process.
In Nepal, the rupee is in circulation in the following denominations:
- Coins of 1, 2 and 5 rupees, as well as 5, 10, 25 and 50 Paisa coins
- Nepalese banknotes are available in the values 1, 2, 5, 10, 20, 50, 100 (all since 1951), 500 (since 1981) and 1000 rupees (since 1972). There are also 25 and 250 rupee notes issued in 1997 on the occasion of the 25th anniversary of the throne of Birendra Bir Bikram Shah.
The Mohar was the currency of the Kingdom of Nepal from the second half of the 17th century until 1932. Silver and gold Mohars were issued, each subdivided into 128 dams. Copper dams were issued too together with copper Paisa valued 4 copper dams.
The values of the copper, silver and gold coins relative to one another were not fixed or determined until 1903. In that year, the silver Mohar became the standard national currency, divided into 50 Paisa. It was replaced in 1932 by the rupee, also called the mohru (Moru), at a rate of 2 Mohars = 1 rupee.
In the ruling time of King Girvan Yuddha (1799–1816), copper coins were issued for 1 and 2 dam and 2 Paisa, with silver coins for 1 dam, 1⁄32, 1⁄16, ⅛, ¼, ½, ¾, 1, 1½. And 3 Mohar and gold coins for 1 dam, 1⁄32, 1⁄16, ⅛, ¼, ½, 1, 1½ and 2 Mohar.
In the ruling time of the next king (Rajendra, 1816–1847), no copper coins were issued, with silver ¾, 1½ and 3 Mohar discontinued and 2 Mohar introduced. Gold 1½ Mohar was also discontinued.
King Surendra (1847–1881) introduced a new copper coin in 1866, consisting of 1 dam, 1 and 2 Paisa, with ½ Paisa issued from 1880. The silver coins consisted of the same denominations as it’s predecessor, with the gold coins similar except for the absence of the 2 Mohar.
The coinage of King Prithvi (1881–1911) was very similar to that of King Surendra, except for the issue of silver 4 Mohar and gold 1⁄64 Mohar.
The copper coinage of King Tribhuvan consisted of 1 Paisa, with 2 and 5 Paisa added in 1919. Silver coins were formed and issued for 1 dam, ¼, ½, 1, 2 and 4 Mohar, with gold 1 dam, 1⁄32, 1⁄16, ⅛ and 1 Mohar. The gold coins continued to be issued after the introduction of the rupee until 1950.