NRB to exchange new banknotes from Sept 11

The Nepal Rastra Bank Director, Rewati Prasad Nepal said the public can now exchange their old notes with new ones from the NRB central office in Baluwatar and its provincial offices. Major commercial and development banks, as well as finance companies, will also be distributing accordingly.

A single person will be allowed to exchange banknotes worth Rs 18,500, according to Nepal.

Nepal’s central bank has been allowing the common people to exchange their old banknotes for new ones, for decades now, since Dashain is one of the major Hindu festivals.

Last year, the central bank distributed banknotes around Rs 8 billion worth, before Dashain and it expects the same this year.