No new currency notes for Dashain, fresh notes at max Rs 18,500 can be exchanged

By TRN Online, Kathmandu, Oct.1: Until last year, the Nepal Rastra Bank (NRB) used to circulate completely fresh notes for the Dashain purpose, but the provision has been changed this time. This time, used but clean or unstained notes will be exchanged.

The NRB has stated that arrangements have also been made to exchange clean notes at the branch offices of licensed banks and financial institutions.

According to NRB assistant spokesperson Dr Dilliram Pokhrel, the unstained and fresh notes that are at the reserve of the bank will be exchanged this year, unlike previous years where new and fresh currency notes were issued for exchange in Dashain. 

He said that as there is a large reserve of clean and fresh notes in Nepal Rastra Bank and banking system therefore to manage them this year unstained and fresh notes are being used in exchange.

Saying that there has been an issue with managing the clean and fresh notes therefore with an aim to manage them new notes are not being issued for this Dashian. There is plenty of circulation of old and fragile. 

 According to him, each person can exchange new notes maximum of Rs 18,500 from banks and financial institutions. The public can get currency denominations of Rs 5, Rs 10 Rs 20, Rs 50, and Rs 100.

The service shall be available until October 8 at the central bank's central and provincial offices and the branches of all banks and financial institutions

According to the NRB, the currency management department, banking department, and regional offices in Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthanagar, Nepalgunj and Dhangadhi will be able to exchange clean notes.