Thursday, August 4, 2011

Nepali Currency

The rupee is the official currency of Nepal. The present rupee has the ISO 4217 code NPR and is normally abbreviated with the sign Rp. It is subdivided into 100 paisa. The issuance of the currency is controlled by the Nepal Rastra Bank. The most commonly used symbolfor the Rupee is Rs or Rp.
History
The rupee was introduced in 1932, replacing the silver mohar at a rate of 2 mohar=1 rupee. Initially, the rupee was called the mohru in Nepalese. Its value was pegged to the Indin rupee in 1993 at a rate of 1.6 Nepalese rupees=1 Indian rupee.

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