Nepalese Rupee

Overview

Economy

• Nepal is a member of SAARC, BIMSTEC, Non-Aligned Movement.
• Main industries include: Tourism, Carpets, Textiles, Small rice, Jute, Sugar, Oilseed mills, Cigarettes, Cement, Brick production.
• Nepal is part of the World Trade Organization.
• Imports are petroleum products, machinery, equipment, gold, electrical goods, medicine.
• Major exports include clothing, pulses, carpets, textiles, juice, pashima, jute goods.
• GDP: $40.9 billion (2023 est.).
• GDP per capita: $1,336 (2023 est.).
• Unemployment rate: 11.9% (2008 est.).
• Inflation rate: 7.1% (2023 est.).
• Main trading partners: India, China, United States, Turkey, Germany, United Kingdom.
• Trade agreements: India-Nepal Trade Agreement, SAFTA, Various bilateral agreements.

History

• Previous currencies used: Nepalese mohar, Indian rupee (used alongside).
• The rupee was introduced in 1932, replacing the mohar. It has been pegged to the Indian rupee throughout most of its history, reflecting close economic ties with India.
• 1932: NPR introduced, replacing mohar
• 1945: Pegged to Indian rupee
• 1956: Nepal Rastra Bank established
• 1990: Democratic changes and economic liberalization
• 2015: Major earthquake economic impact
• 2020: COVID-19 pandemic effects on tourism
• Exchange rate peg: INR (1945-present) at 1.6 NPR = 1 INR.
• Currently pegged to INR at 1.6 NPR = 1 INR.

General Information

• ISO 4217 Code: NPR
• Symbols: NPR/₨
• Currency Subunits: 100 paise
• Central Bank: Nepal Rastra Bank
• Monetary Policy: Currency board system maintaining INR peg. Focus on price stability and supporting remittance-dependent economy.
• Bills: 1 NPR, 2 NPR, 5 NPR, 10 NPR, 20 NPR, 50 NPR, 100 NPR, 500 NPR, 1000 NPR
• Coins: 25 paisa, 50 paisa, 1 rupee, 2 rupees, 5 rupees, 10 rupees
• USD Exchange Rate: Variable (follows INR rate, approximately 133 NPR per USD)
• Pegged To: INR at 1.6 NPR = 1 INR
• Capital: Kathmandu
• Population: 30,666,598 (2023 est.)
• Area: 147,181 km²
• Languages: Nepali (official), Maithali, Bhojpuri, Tharu, Tamang, Newar, Magar, Awadhi
• Time Zones: UTC+5:45 (Nepal Time)
• Government Type: Federal parliamentary republic
• Head of Government: President (head of state), Prime Minister (head of government)
• Independence: 1768 (unified by Prithvi Narayan Shah)
• Ethnic Groups: Chhettri 16.6%, Brahman-Hill 12.2%, Magar 7.1%, Tharu 6.6%, Tamang 5.8%, Newar 5%, Kami 4.8%, Muslim 4.4%, Yadav 4%, Rai 2.3%, Gurung 2%, Damai/Dholii 1.8%, Thakuri 1.6%, Limbu 1.5%, Sarki 1.4%, Teli 1.4%, Chamar/Harijan/Ram 1.3%, Koiri/Kushwaha 1.2%, Other 19%
• Religions: Hindu 81.3%, Buddhist 9%, Muslim 4.4%, Kirant 3.1%, Christian 1.4%, Other 0.5%, Unspecified 0.2%
• Literacy Rate: 67.9% (2018 est.)
• Transport: Tribhuvan International Airport, limited road network, no railways, landlocked requiring transit through India
• Communications: Basic telecommunications, 54% internet penetration, mobile network coverage
• Energy: Hydroelectric 99%, Thermal 1%, vast hydroelectric potential
• Countries Using This Currency: Nepal
• Data Sources: Central Bank: Nepal Rastra Bank (nrb.org.np), Economic Data: Central Bureau of Statistics Nepal, World Bank, IMF, Trade Data: Department of Customs Nepal, Demographic Data: Central Bureau of Statistics Nepal, Geographic Data: Department of Hydrology and Meteorology, Historical Data: Nepal Rastra Bank archives
• Last Updated: 2025