23rd Oct. 2017
 
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Nepal Currency  
 
Rupees:
Nepal’s currency is called the rupee, the smallest unit being the paisa. One rupee equals to a hundred paisa, a relation similar between dollar & cents. There are paper notes of denominations 1, 2, 5, 10, 25, 50, 100, 500, and 1000 rupees. The King’s photo that all notes used to carry have been replaced by the image of Sagarmatha(Mt. Everest) on newly printed notes after country was declared a republic in 2008. The notes are printed in Nepali language, the English equivalent in figures printed on the upper or lower right corners.

Coins:
Although there are coins of all denominations, mostly the coins of denominations 2 and 1 are found in the market. Exchange Rate: The exchange rate for Nepali currency is determined by the central bank called Nepal Rastra Bank. The exchange rate fluctuates slightly according to the market, but the exchange rate against the Indian currency remains fixed. At the current exchange rate, 100 Indian rupees equal 168 Nepali rupees.

Credit Cards Vs Cash:
There are several banks national and international banks throughout Nepal’s urban places. Hundreds of money exchange counters are scattered in Kathmandu and Pokhara. Credit Cards & travelers cheques are also accepted by hotels & restaurants in major tourist hubs & towns. However, cash is still most preferred mode of transaction in Nepal, and in rural trekking areas, cash is the only mode of payment.
 
 
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