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In order to resolve the dearth of high denomination notes in currency market, Nepal Rastra Bank (NRB) will bring notes with Rs 500 denominations worth Rs. 20 billion in the country from France on Friday, according to media reports.

It is expected that the arrival of fresh money will help banks and financial institutions combat the current problem of cash crunch.

According to the central bank, 40 million 500 rupee notes will come into circulation by Sunday.

NRB is also mulling to inject 100 million 1000-rupee notes by December.

The NRB has attributed the present cash crunch to the delay in supply of fresh notes and disappearance of high-denomination notes worth Rs. 11 billion.

Owing to lack of high denomination notes, the low denomination notes are said to be facing pressure and its stock is also decreasing fast.

Normally, the demand for the fresh notes surges in the festive season. nepalnews.com

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