Kathmandu, September 14
The central bank says it is distributing new banknotes for use during Dashain as dakshina from Wednesday this year.
The Nepal Rastra Bank Director Rewati Prasad Nepal says the exchange service has been launched in the Kathmandu valley today whereas it will start outside the valley on September 18 only.
The public can exchange the new notes from the NRB central office in Baluwatar and its provincial offices. Major commercial and development banks, as well as finance companies, will also distribute the notes.
One person will be allowed to exchange the notes worth Rs 18,500, according to him. A bundle of banknotes has 100 units, one bundle each of five-rupee, 10-rupee, 20-rupee, 50-rupee and 100-rupee notes make Rs 18,500.
It has been decades that Nepal’s central bank has been letting common people exchange their old banknotes for new ones ahead of Dashain, the biggest festival for Nepalis.
The central bank had distributed new banknotes worth Rs 8 billion before Dashain last year, and it expects the same this year also.