Nepal Rastra Bank (NRB) has announced that it will issue new banknotes only in the denomination of Rs 5, while distributing clean notes of other denominations for the upcoming Dashain festival.
The central bank said the move aligns with its cost management strategy and efforts to promote digital transactions. Traditionally, NRB used to issue fresh notes for Dashain, but the practice was revised last year. The bank was spending nearly Rs 1.3 billion annually on printing new notes for the festival, which is about a month away.
According to NRB sources, individuals will be able to exchange up to Rs 18,500 worth of new and clean notes per person at any commercial bank and the central bank’s seven provincial offices.
