NRB to distribute new currency notes from Sunday

Kathmandu Oct 7- Nepal Rastra Bank (NRB), the central bank of the country, is to circulate the new currency notes worth around Rs 57.86 billion to the general public from Sunday in view of the upcoming biggest festivals in Nepal, Dashain, Tihar and Chhat.

The circulation this year is 18 per cent increment than last year's supply of fresh banknotes in the market by the NRB considering its growing demand. The customary practice of using new currency while receiving tika from the elders during the Dashain creates the demand for the same.

Public in the Kathmandu Valley can get new notes from the Thapathali Office of the Bank and others out of valley can receive it from its branches in their respective districts. In addition, they can also get the new notes from other commercial banks, development banks and cooperatives across the country.

An individual can exchange for new notes up to Rs 22,000, which includes two bundles each of Rs 5, Rs 10 and Rs 20 denominations and one bundle of each Rs 50 and Rs 100 denominations. NRB assured that there will be no dearth of new notes in the market like in the past.

Furthermore, the new currently notes will not contain the signature of the newly appointed government, Dr Chiranjibi Nepal as the new currency bearing the governor's signature is yet to arrive.