The currency of the country Nepal is the rupee. Formerly called as mohru in Nepalese language, the rupee has the code of NPR and is usually abbreviated as Rs. Responsible for issuing coins and banknotes of the country is the Nepal Rastra Bank. A rupee is subdivided in 100 paisa. In 1932, the Rupee finally replaced the silver mohar, with exchange rates of two mohar is equivalent to one rupee.
Beginning in 1932, 20 piasa, 50 piasa and 1 rupee coins, made out of silver, were introduced. Added sometime between 1933 and 1935 were the copper coins 1 paisa, 2 paisa, and 5 paisa. A fourth and a half paisa were circulated as copper coins with 5 paisa made out of nickel brass. During 1953, brass 1, 2 and 4 paisa, bronze 5 and 10 paisa, and cupro nickel 20, 25 and 50 paisa and 1 rupee were issued. However, the 20 paisa stopped circulating.
The government made banknotes in 1951, with denominations of 1, 5, 10 and 100 rupees. The state bank took control of the issuance of notes five years later. Ten years later, in 1966, aluminum coins were made in denominations of 1 paisa, 2 paisa, 5 paisa, and brass 10 paisa.
The 500 and 1000 rupee notes were added in the 1970’s as well as the 50 rupee note. In the 1980’s, they discontinued the production for the 1 rupee, after that, the 2 rupee note was introduced to the public. The 20 rupee notes were introduced and the 2 rupee notes gradually faded in public in 1982.
Though the state bank stopped producing the 1 rupee and 2 rupee notes, there are some that were still circulating. Printed on the obverse side of the 1 rupee note is Ama Dablam. Fifty paisa coins and the 1 rupee coins were made in stainless steel in 1987 and 1988 respectively. Small coins were issued such as the 10 and 25 paisa coins. Aluminium 50 paisa and brass-plated-steel 1 rupaiya, 2 rupaiya, 5 rupaiya and 10 rupaiya were also introduced.
As of February 23, 2011, 1NPR = 0.0138 USD.