The central bank is preparing to distribute new banknotes targeting Dashain festival from mid-September.
Spokesperson for the central bank Laxmi Prapanna Niraula confirmed that Nepal Rastra Bank (NRB) is preparing to finalise the date to distribute new banknotes for the festive season as always. “The central bank will most probably begin to supply new banknotes from mid-September or 15 days before Dashain festival starts,” he said, adding that it is expected to circulate new banknotes of different denominations worth almost Rs 14 billion for the festive season this year. “The central bank had issued new banknotes equivalent to the same amount for Dashain last year.”
After circulating the new bank notes, the central bank scraps old currency notes of the equal amount to maintain money supply.
Last Dashain, the central bank had distributed lower denomination notes of up to Rs 27,000 for each person from the central bank banking office in Thapathali, Rastriya Banijya Bank and Nepal Bank Ltd. The central bank had also allowed individuals to get 100 units of banknotes of Rs 100 and 200 units each of Rs 50, Rs 20, Rs 10 and five-rupee denominations from the central bank and designated branches of Rastriya Banijya Bank and Nepal Bank Ltd.
Spokesperson for the central bank Laxmi Prapanna Niraula confirmed that Nepal Rastra Bank (NRB) is preparing to finalise the date to distribute new banknotes for the festive season as always. “The central bank will most probably begin to supply new banknotes from mid-September or 15 days before Dashain festival starts,” he said, adding that it is expected to circulate new banknotes of different denominations worth almost Rs 14 billion for the festive season this year. “The central bank had issued new banknotes equivalent to the same amount for Dashain last year.”
After circulating the new bank notes, the central bank scraps old currency notes of the equal amount to maintain money supply.
Last Dashain, the central bank had distributed lower denomination notes of up to Rs 27,000 for each person from the central bank banking office in Thapathali, Rastriya Banijya Bank and Nepal Bank Ltd. The central bank had also allowed individuals to get 100 units of banknotes of Rs 100 and 200 units each of Rs 50, Rs 20, Rs 10 and five-rupee denominations from the central bank and designated branches of Rastriya Banijya Bank and Nepal Bank Ltd.
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