Nepalese Rupee (NPR)

Search Dictionary

Definition of 'Nepalese Rupee (NPR)'

The Nepalese rupee (sign: ??; code: NPR) is the currency of Nepal. It is subdivided into 100 paisa. The Nepalese rupee is issued by the Nepal Rastra Bank.

The Nepalese rupee was introduced in 1932, replacing the Nepalese mohar at a rate of 1 rupee = 10 mohars. The rupee was initially pegged to the Indian rupee at a rate of 1 NPR = 1 INR. However, this peg was abandoned in 1956, and the rupee was allowed to float freely.

The Nepalese rupee has experienced significant inflation in recent years. In 2015, the exchange rate was 1 USD = 100 NPR. However, by 2023, the exchange rate had fallen to 1 USD = 120 NPR.

The Nepalese rupee is used in Nepal and is also accepted in some parts of India. However, it is not a convertible currency, and it cannot be exchanged for other currencies outside of Nepal.

The Nepalese rupee is a relatively weak currency, and it is often subject to fluctuations in the exchange rate. This can make it difficult for businesses and individuals to plan for the future. However, the Nepalese rupee is still a widely used currency, and it is an important part of the economy of Nepal.

Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.

Is this definition wrong? Let us know by posting to the forum and we will correct it.