New notes in circulation
With Dasain a week away, Nepal Rastra Bank (NRB) has geared up to circulate new notes in the market.
New currency notes arrive in banks of Kathmandu to be distributed to their branches within...
According to NRB spokesperson Bhaskar Mani Gyawali, this year the central bank will circulate new notes amounting to Rs 30 billion, up by approximately Rs 2 billion than last year.
“In view of the demand of the festivals, NRB has already started circulation of new notes and has increased counters to easily service the people,” Gyawali told Nepalnews.com.
The public can exchange new notes from six counters in NRB’s Thapathali office, eight of its regional offices and several commercial banks nation-wide. Financial institutions will be provided new notes within this week.
“We have already experienced a surge in demand for new notes,” says Gyawali. “Should the demand rise higher than Rs 30 arab, we have enough stock to supply and ease the crunch.”
NRB is circulating new notes of upto Rs 100 this year. At present there is circulation of notes worth Rs. 230 billion in the market. Nepalnews.com