NPR - Nepalese Rupee

The Nepal Rastra Bank (NRB), established in 1956, manages the Nepalese Rupee. It controls currency issuance, regulates monetary policy, and ensures economic stability. The NPR operates under a fixed exchange rate against the Indian Rupee, reflecting the two neighboring countries' close trade ties and shared history.

Nepal’s official currency system was introduced in 1932 under King Tribhuvan’s reign, replacing traditional mohar coins. Initially pegged to the Indian Rupee, the modern Nepalese Rupee helped standardize financial transactions and trade within the country. Today, the NPR continues to evolve while maintaining its historical value.

Before the introduction of the Rupee in 1932, Nepal's primary currency was the 'Mohar', dating back to the Malla Dynasty in the 17th century. Even after the Rupee's introduction, for a period, it was also referred to as 'Mohru. The brass four Paisa coins minted in Nepal were made from flattened rifle cartridges used by the Nepalese Gurkha soldiers during World War II.

Like other South Asian currencies, the Nepalese Rupee uses the “₨” symbol. The abbreviation “NPR” in international markets is used to avoid confusion with other rupee-denominated currencies.