EN Nepal Rastra Bank, Notes and Coins of Nepal, Kathmandu 2005-2006.pdf

Notes and Coins

Nepal Rastra Bank

GOLDEN JUBILEE YEAR 2005/06

Kathmandu, Nepal

Central Office

Baluwatar, Kathmandu

Nepal

Website: http://www.nrb.org.np

Compilation Assistance :

Note Section : Mr. Shyam Agrawal (Ghiraiya)

Coin Section : Mr. Kamal Prasad Gyawali

Cover Design :

Mr. Sundar Shrestha

Computer Layout Design :

Mr. Binod Maharjan, Tel. : 2120235

Printed by :

Monaj Printing House Pvt. Ltd., Kupondole, Tel. : 5524075, 5534007

It gives me great pleasure in bringing out this publication on the ‘Notes and Coins of Nepal’ on the auspicious

occasion of the Golden Jubilee Year of the Nepal Rastra Bank (NRB), which was established as the central

bank of the country on April 26, 1956 under the Nepal Rastra Bank Act, 1955. Incorporating all representative

notes issued in Nepal and the coins issued by the NRB, this publication captures the evolution of the notes

and coins issuance in Nepal through their pictorial representation and description. I believe this publication

will serve as a useful reference source to those interested in the notes and coins of Nepal.

It may be recalled that the NRB was established when a dual currency system was in practice with the Nepalese

and Indian Currencies both circulating in the country. For the purpose of making the Nepalese Currency the

legal tender, it was imperative to develop a proper system of notes and coins and ensure conﬁ dence in the

national currency. This motivation was reﬂ ected in the preamble to the 1955 Act which stated that the Bank

would ensure “proper management for the issuance of the Nepalese currency notes”. This importance has

been reiterated in the Nepal Rastra Bank Act, 2002 which states a function of the Bank as “to take necessary

decisions with regard to the denominations of bank notes and coins, the ﬁ gures, size, metal, materials for

printing notes and other materials, and to frame appropriate policies with regard to their issue.”

The responsibility of issuing currency notes was initially held by His Majesty’s Government, then called the

Government of Nepal, through the “Sadar Mulukikhana” (Central Treasury) from September 1945 through

February 1960, when this responsibility was handed over to the NRB. For this purpose, the NRB had set

up the Note Department in September 1956 which was renamed as the Currency Management Department

in November 2002. Since taking over the responsibility of issuing the currency notes, the NRB has issued

notes in denominations of Rs. 1, 2, 5, 10, 20, 25, 50, 100, 250, 500 and 1000. I am pleased to mention

that the NRB has also issued the commemorative note of Rs. 50 to mark its Golden Jubilee. Likewise, His

Majesty’s Government issued regular coins (1 paisa, 5 paisa, 10 paisa, 25 paisa, 50 paisa and Re 1) and various

commemorative coins through the Mint Department, which was set up in 1932 and functioned as it was until

1983 when this responsibility was also transferred to the NRB, which has been so far minting 5 paisa, 10

paisa, 25 paisa, 50 paisa, Rs. 1, 2, 5 and Rs. 10 as regular coins and a number of other commemorative coins.

To streamline the currency management function through a one-window system, the Mint Department was

merged with the Currency Management Department and renamed as the Mint Division since July 2005. The

NRB has also issued silver coin of Rs. 1,000 and gold coins of 2.5 gm, 5 gm and 10 gm to mark the Golden

Jubilee.

I take this opportunity to extend my appreciation to Mr. Shyam Agrawal (Ghiraiya), Nepalese bank note

collector, and Mr. Kamal Prasad Gyawali, Assistant Director, Currency Management Department of the

NRB, for their untiring efforts in the compilation of the sections on the notes and the coins respectively. The

endeavor undertaken by Executive Director Mr. Tula Raj Basyal, Coordinator, Golden Jubilee Anniversary

Publications Sub-Committee, and his dedicated team in bringing out this publication is highly praiseworthy.

All those involved to bring out this publication deserve my special thanks.

(Bijaya Nath Bhattarai)

Khajanchees of Sadar Muluki Khana (Central Treasury)

and their Tenure

Janak Raj Pandit

Bharat Raj Pandit

( - Jan. 22, 1952)

Narendra Raj Pandit

(Jan. 22, 1952 - April 25, 1956)

Governors of Nepal Rastra Bank and their Tenure

Himalaya Shumsher JBR

(April 26, 1956 - Feb. 7, 1961)

Laxmi Nath Gautam

(Feb. 8, 1961 - June 17, 1965)

Pradyumna Lal Rajbhandari

(June 18, 1965 - Aug. 13, 1966)

Dr. Bhekh Bahadur Thapa

(August 14, 1966 - July 26, 1967)

Dr. Yadav Prasad Pant

(April 24, 1968 - April 18, 1973)

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