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Friday, 7 October 2016

New currency note for Dashain festival

Posted by Anup Baral October 07, 2016 :
Nepal Rastra Bank (NRB) has said that general public can exchange new bank notes for the major festivals from October 2. NRB, the central monetary authority, estimates that new bank notes of small denomination worth Rs 8 billion will be circulated in the market in the eve of festivals like Dashain and Tihar. Rajendra Pandit, the deputy spokesperson for the NRB, says that one can exchange new bank notes worth Rs 37,000. The NRB has been distributing new bank notes ahead of Dashain and Tihar festivals every year to meet the rising demand for such notes for the major festivals. The customary practice of offering new notes while receiving Tika during Dashain and Tihar festivals increases demand for new notes. The central bank will provide exchange facility of two bundles of bank notes of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 denominations each to a person. Each bundle contains 100 bills. Last year, the NRB had fixed the limit for exchange of bank notes at Rs 22,000 per person.

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