History
The rupee was introduced in 1932, replacing the silver mohar at a rate of 2 mohar = 1 rupee. Initially, the rupee was called the mohru in Nepalese. Its value was pegged to the Indian rupee in 1993 at a rate of 1.6 Nepalese rupees = 1 Indian rupee Coins
In 1932, silver 20 and 50 paisa and 1 rupee coins were introduced, followed by copper 1, 2 and 5 paisa between 1933 and 1935. In the 1940s, copper ¼ and ½ paisa and nickel-brass 5 paisa were added. In 1953, a new coinage was introduced consisting of brass 1, 2 and 4 paisa, bronze 5 and 10 paisa, and cupro-nickel 20, 25 and 50 paisa and 1 rupee. The 20 paisa was discontinued after 1954.
In 1966, aluminium 1, 2 and 5 paisa and brass 10 paisa were introduced. Aluminium 25 paisa coins were introduced in 1982, followed by stainless steel 50 paisa and 1 rupee in 1987 and 1988. In 1994, smaller 10 and 25 paisa coins were issued, alongside aluminium 50 paisa and brass-plated-steel 1, 2, 5 and 10 rupaiya..
Banknotes
In 1951, the government introduced notes for 1, 5, 10 and 100 rupees, with the name mohru used in Nepalese. The State Bank took over note issuance in 1956 and, in its second issue, began using the name rupee in the Nepalese texts. In 1972, 500 and 1000 rupees notes were added, followed by 50 rupees in 1974 and 2 rupees in 1981, after the discontinuation of production of 1 rupee notes (some are still in circulation). 20 rupees notes were introduced in 1982. 1 and 2 rupees notes are no longer produced, although previously issued ones are still in circulation. The 1 rupee note has a picture of Ama Dablam, one of the neighbours of Mt. Everest, on its reverse side. For the 2 rupees with a symbol of Indian god on aside and with mantra on the top on the left is the most valued that can be auction at $39,000 USD and above. This note now readed from the Nepal National Bank only left less then 180 note. The only note that really valued from year 1832-1867.
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| One Ruppe of Nepal |
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| Nepali Two Ruppe |
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