Fake notes float in market

Bhairahawa, October 17:

Officers of the Nepal Rastra Bank, Bhairahawa said that suspected fake US dollar notes as well as fake Indian currency is being found in the market.

They were speaking at an interaction programme on fake notes organised by the NRB branch office. Manager of the branch, Bimalraj Khanal, presenting a working paper, said that fake US dollars are also being found in the market.

172 suspected notes worth 1,000, seven notes of the denomination of 500 and 22 notes worth 100 in foreign currency were found during the last fiscal year.

40 suspected notes of 1,000, four suspected notes of 100 in foreign currency have been seized at the branch office this year so far, said Khanal.

Assistant manager Ram Chandra Sharma said that if the characteristics of fake and original notes are deciphered by those working at the sale points, distribution of fake currency could be discouraged.

Another assistant manager, Shiv Hari Aryal said if attention is given to the security thread, paper and colour of notes, fake notes can easily be discovered.

Other speakers at the interaction said that Indian fake notes worth 500 and 1,000 rupees are smuggled into the Nepali market through the open border.