Nepalese Rupee (NPR)

The Nepalese Rupee (NPR) is the official currency of Nepal, a landlocked country located in South Asia. The currency is issued and regulated by the Nepal Rastra Bank, the central bank of Nepal. The NPR is denoted by the currency symbol “रू” or “Rs.” and its ISO 4217 currency code is NPR.

The Nepalese Rupee is subdivided into smaller units called paisa, but due to inflation, the paisa is no longer commonly used in everyday transactions. Currently, the Nepalese Rupee is available in banknotes of 1, 2, 5, 10, 20, 50, 100, 500, and 1000 NPR denominations. Coins are also in circulation and are available in denominations of 1, 2, 5, and 10 NPR.

The Nepalese Rupee is the legal tender in Nepal and is used for all commercial transactions within the country. While it may not be widely accepted outside of Nepal, some establishments in neighboring countries may accept Nepalese Rupees for payment. However, it is advisable to exchange currency before traveling to ensure smooth transactions.

The value of the Nepalese Rupee fluctuates against other currencies, and its exchange rate is determined by various factors, including supply and demand in the foreign exchange market. Exchange rates can be monitored through banks, currency exchange offices, and online platforms.

Nepal’s economy relies on various sectors such as agriculture, tourism, services, and remittances from Nepalese working abroad. The Nepalese Rupee plays a vital role in the country’s economic activities and is an essential currency for the local population.

In summary, the Nepalese Rupee (NPR) is the official currency of Nepal and is widely used for daily transactions within the country. It is regulated by the Nepal Rastra Bank and is available in both banknotes and coins. The exchange rate of the NPR can fluctuate, and it is primarily used within Nepal’s borders for commercial purposes.