Central bank to distribute new currency notes from Sunday

Kathmandu, October 7

Nepal Rastra Bank (NRB), the central bank of the country, is to circulate new currency notes worth around Rs 57.86 billion to the general public from Sunday in view of upcoming festivals of Dashain, Tihar and Chhat.

The circulation this year is 18 per cent higher as against last year’s supply of fresh banknotes in the market by central bank, shared NRB Spokesperson Trilochan Pangeni, adding that new currency flow was increased gauging its growing demand.

The customary practice of using new currency while receiving tika from the elders during Dashain creates the demand for the same.

The public in Kathmandu Valley can get new notes from the Thapathali office of NRB and others out of the Valley can receive it from its branches in their respective districts.

In addition, they can also get the new notes from other commercial banks, development banks and cooperatives across the country, added Pangeni.

An individual can exchange new notes of up to Rs 22,000, which includes two bundles each of five rupees, Rs 10 and Rs 20 denominations and one bundle each of Rs 50 and Rs 100 denominations, informed Pangeni. Pangeni said that there will be no dearth of new notes in the market like in the past.