Time Period: 1768-1932
Timeline
- 1768-1932
- Issuance of hammered silver coins in units of the "Mohur" introduced by the Malla kingdom of Kathmandu in the 16th century, then taken over by the other states in the Kathmandu valley and the Gorkha kingdom:
- around 1857: Rating of Nepalese coins in British India as 1 Mohur = 6¾ Indian Annas (= 27⁄64 Indian Rupee)
- around 1864: Start of production of hammered copper coins (the first ones dated SE1786), the silver-to-copper parity was officially 1 : 32
- around 1901: Start of production of minted silver coins (the first ones dated SE1823) and copper coins (the first ones dated VS1964).
Time Period: 1932-
Currency: Nepalese Rupee
- Transition
- -
- Sub-units
- Rupee / 100 Paisa
- ISO4217
- NPR
Timeline
- 02.12.1932
- VS:18.08.1989
- Establishment of the Nepalese Mint Department, start of production of minted silver coins in denominations of the Rupee (the first ones dated VS1989)
- 14.05.1937
- VS:01.02.1994
- Law [Nepal Bank Act, no. 16] on the establisment of the Nepal Bank Ltd.; effective upon constitution of the bank on 15.11.1937 (VS:30.07.1994)
- 17.09.1945
- VS:02.06.2002
- Start of issuance of government paper money (substituting silver coins that had been exported to India during World War II), with denominations "Mohru" (Nepalese) and "Rupee" (English)
- For the same reason, after 1948 (VS2005) silver coinage were replaced by billon, after 1953 (VS2010) by copper-nickel.
- 04.11.1955
- VS:18.07.2012
- Law [Nepal Raistra Bank Act, no. 14] on the establishment of the National Bank of Nepal as central bank; effective upon constitution of the bank on 26.04.1956 (VS:14.01.2013)
- 12.07.1957
- VS:29.03.2014
- Law [Increase in the Circulation of the Nepalese Currency Act, no. 3] on the promotion of the use of Nepalese banknotes (over coins and Indian paper money); effective 13.04.1960 (VS:01.01.2014)
- 19.02.1960
- VS:08.11.2013
- Start of issuance of paper money by the National Bank, with denominations "Mohru" (Nepalese) and "Rupee" (English)
- around 1962: Change of the Nepalese denomination into "Rupaiyam"
- 02.06.1960
- VS:20.02.2014
- Law [Foreign Exchange Control Act, no. 7] on restrictions in trading with foreign currencies; effective immediately (?)
- 29.06.1962
- VS:15.03.2019
- Law [Foreign Exchange (Regulation) Act, no. 5] on prohibiting the use of foreign (Indian) money for domestic transactions; effective 17.08.1963 (VS:01.05.2020)
- 13.01.1963
- VS:29.09.2019
- Currency Act [No. 34]; effective immediately (?)
Valuation Regimes
- 1932-1960
- Metallic currency based on circulating silver coins, after 1945 replaced by billon and copper-nickel coins. Widespread use of Indian Currency which fluctuated on the market against the silver coins. No foreign exchange.
- 1960-
- Fixed rate against Indian Rupee (1985-1993, nominally pegged to a trade-weighted basked which was dominated by the Indian Rupee)
Rate Arrangements
- 13.04.1960
- Fixed
- Indian Rupee at 1 : 1.60
- -
- 06.06.1966
- Fixed
- Indian Rupee at 1 : 1.0155
- +57.6%
- 08.11.1967
- Fixed
- Indian Rupee at 1 : 1.35 - [Gold Parity (11.12.1967)] 87.77mg AU fine
- -24.8%
- 22.12.1971
- Fixed
- Indian Rupee at 1 : 1.39
- -2.9%
- 22.03.1978
- Fixed
- Indian Rupee at 1 : 1.45
- -4.1%
- 30.11.1985
- Fixed
- Indian Rupee at 1 : 1.70
- -14.7%
- 31.05.1986
- Variable
- initially: Indian Rupee at 1 : 1.68
- +1.2%
- 12.02.1993
- Fixed
- Indian Rupee at 1 : 1.60
- -
End-year Forex Rates (Units per US Dollar)
- Year
- Code
- Ratio
- Rate
- Delta
- Comment
- 1946
- NPR
- 1
- 3.04
- ±0.0%
- Kathmandu market rate for INR
- 1947
- NPR
- 1
- 3.47
- -12.4%
- Kathmandu market rate for INR
- 1948
- NPR
- 1
- 3.54
- -1.9%
- Kathmandu market rate for INR
- 1949
- NPR
- 1
- 5.05
- -29.9%
- Kathmandu market rate for INR
- 1950
- NPR
- 1
- 5.43
- -7.0%
- Kathmandu market rate for INR
- 1951
- NPR
- 1
- 6.62
- -18.0%
- Kathmandu market rate for INR
- 1952
- NPR
- 1
- 7.52
- -12.0%
- Kathmandu market rate for INR
- 1953
- NPR
- 1
- 7.95
- -5.4%
- Kathmandu market rate for INR
- 1954
- NPR
- 1
- 8.24
- -3.5%
- Kathmandu market rate for INR
- 1955
- NPR
- 1
- 7.05
- +16.9%
- Kathmandu market rate for INR
- 1956
- NPR
- 1
- 6.90
- +2.1%
- Kathmandu market rate for INR
- 1957
- NPR
- 1
- 8.05
- -14.2%
- Kathmandu market rate for INR
- 1958
- NPR
- 1
- 7.90
- +1.8%
- Kathmandu market rate for INR
- 1959
- NPR
- 1
- 7.07
- +11.8%
- Kathmandu market rate for INR
- 1960
- NPR
- 1
- 7.62
- -7.2%
- Kathmandu market rate for INR
- 1961
- NPR
- 1
- 7.62
- ±0.0%
- fixed against INR
- 1962
- NPR
- 1
- 7.62
- ±0.0%
- fixed against INR
- 1963
- NPR
- 1
- 7.62
- ±0.0%
- fixed against INR
- 1964
- NPR
- 1
- 7.62
- ±0.0%
- fixed against INR
- 1965
- NPR
- 1
- 7.62
- ±0.0%
- fixed against INR
- 1966
- NPR
- 1
- 7.62
- ±0.0%
- fixed against INR
- 1967
- NPR
- 1
- 10.13
- -24.8%
- fixed against INR
- 1968
- NPR
- 1
- 10.13
- ±0.0%
- fixed against INR
- 1969
- NPR
- 1
- 10.13
- ±0.0%
- fixed against INR
- 1970
- NPR
- 1
- 10.13
- ±0.0%
- fixed against INR
- 1971
- NPR
- 1
- 10.33
- -2.0%
- fixed against INR
- 1972
- NPR
- 1
- 11.24
- -8.1%
- fixed against INR
- 1973
- NPR
- 1
- 11.39
- -1.3%
- fixed against INR
- 1974
- NPR
- 1
- 11.24
- +1.3%
- fixed against INR
- 1975
- NPR
- 1
- 12.41
- -9.5%
- fixed against INR
- 1976
- NPR
- 1
- 12.14
- +2.3%
- fixed against INR
- 1977
- NPR
- 1
- 13.52
- -10.2%
- fixed against INR
- 1978
- NPR
- 1
- 11.28
- +19.8%
- fixed against INR
- 1979
- NPR
- 1
- 11.30
- -0.2%
- fixed against INR
- 1980
- NPR
- 1
- 11.19
- +1.0%
- fixed against INR
- 1981
- NPR
- 1
- 13.21
- -15.3%
- fixed against INR
- 1982
- NPR
- 1
- 14.05
- -6.0%
- fixed against INR
- 1983
- NPR
- 1
- 15.12
- -7.1%
- fixed against INR
- 1984
- NPR
- 1
- 16.83
- -10.2%
- fixed against INR
- 1985
- NPR
- 1
- 18.03
- -6.7%
- fixed against INR
- 1986
- NPR
- 1
- 21.26
- -15.2%
- 1987
- NPR
- 1
- 20.13
- +5.6%
- 1988
- NPR
- 1
- 24.33
- -17.3%
- 1989
- NPR
- 1
- 23.45
- +3.8%
- 1990
- NPR
- 1
- 30.11
- -22.1%
- 1991
- NPR
- 1
- 42.84
- -29.7%
- 1992
- NPR
- 1
- 46.65
- -8.2%
- 1993
- NPR
- 1
- 50.12
- -6.9%
- fixed against INR
- 1994
- NPR
- 1
- 50.21
- -0.2%
- fixed against INR
- 1995
- NPR
- 1
- 57.34
- -12.4%
- fixed against INR
- 1996
- NPR
- 1
- 57.35
- 0.0%
- fixed against INR
- 1997
- NPR
- 1
- 63.15
- -9.2%
- fixed against INR
- 1998
- NPR
- 1
- 67.97
- -7.1%
- fixed against INR
- 1999
- NPR
- 1
- 69.63
- -2.4%
- fixed against INR
- 2000
- NPR
- 1
- 74.80
- -6.9%
- fixed against INR
- 2001
- NPR
- 1
- 77.09
- -3.0%
- fixed against INR
- 2002
- NPR
- 1
- 76.85
- +0.3%
- fixed against INR
- 2003
- NPR
- 1
- 72.98
- +5.3%
- fixed against INR
- 2004
- NPR
- 1
- 69.73
- +4.7%
- fixed against INR
- 2005
- NPR
- 1
- 72.11
- -3.3%
- fixed against INR
- 2006
- NPR
- 1
- 70.77
- +1.9%
- fixed against INR
- 2007
- NPR
- 1
- 63.06
- +12.2%
- fixed against INR
- 2008
- NPR
- 1
- 77.52
- -18.7%
- fixed against INR
- 2009
- NPR
- 1
- 74.69
- +3.8%
- fixed against INR
- 2010
- NPR
- 1
- 71.70
- +4.2%
- fixed against INR
- 2011
- NPR
- 1
- 85.23
- -15.9%
- fixed against INR
- 2012
- NPR
- 1
- 87.64
- -2.8%
- fixed against INR
- 2013
- NPR
- 1
- 99.04
- -11.5%
- fixed against INR
- 2014
- NPR
- 1
- 101.33
- -2.3%
- fixed against INR
- 2015
- NPR
- 1
- 106.12
- -4.5%
- fixed against INR
- 2016
- NPR
- 1
- 108.73
- -2.4%
- fixed against INR
- 2017
- NPR
- 1
- 102.28
- +6.3%
- fixed against INR
- 2018
- NPR
- 1
- 111.67
- -8.4%
- fixed against INR
- 2019
- NPR
- 1
- 114.04
- -2.1%
- fixed against INR
- 2020
- NPR
- 1
- 116.91
- -2.5%
- fixed against INR
- 2021
- NPR
- 1
- 118.99
- -1.7%
- fixed against INR
- 2022
- NPR
- 1
- 132.46
- -10.2%
- fixed against INR
- 2023
- NPR
- 1
- 132.99
- -0.4%
- fixed against INR
- 2024
- NPR
- 1
- 137.00
- -2.9%
- fixed against INR