Nepal Rastra Bank to distribute new notes ahead of Dashain
Summary
Nepal Rastra Bank is distributing new banknotes ahead of Dashain through its offices and partner banks without announcing a fixed exchange period. Demand for fresh notes has eased this year, with the central bank saying people can exchange them on regular banking days except public holidays.
Key Points
- Nepal Rastra Bank has stopped announcing a fixed period for exchanging new banknotes and is instead offering the facility through its offices and branches of banks and financial institutions.
- In Kathmandu Valley, new notes are being distributed from the central office in Thapathali, and people can exchange one or two sets of fresh notes on regular days.
- Demand typically rises during Dashain, Tihar and Chhath, but the central bank says this year’s demand is lower and there is no major crowd.
- The bank says digital payments, lower demand and the cost of printing and managing notes are affecting the distribution of new currency.
