Currency profile
Nepalese Rupee (NPR)
The Nepalese rupee (NPR) is the official currency of Nepal, divided into 100 paisa (a subunit now little used in practice). It has been pegged to the Indian rupee at 1.60 since 1993.
The Nepalese Rupee today
Mid-market · as of 6:11 PM GST
The rupee is pegged to the Indian rupee at 1.60, so against the Indian rupee it barely moves; against the dirham and the dollar it tracks the Indian rupee, which floats.
Exchange-rate regime
Pegged to the Indian rupee. The rupee has been pegged to the Indian rupee at 1.60 Nepalese rupees per Indian rupee since 1993. Because the Indian rupee floats against the US dollar, the Nepalese rupee floats against the dollar through the Indian rupee.
The issuing central bank
Nepal Rastra Bank, established in 1956, is the central bank and sole note-issuing authority, and manages the peg to the Indian rupee.
History
- 1960A peg of 1.60 Nepalese rupees to the Indian rupee was first instituted in 1960.
- 1993The 1.60 peg to the Indian rupee was re-established at its current level in 1993.
- 2008After Nepal became a republic in 2008, new banknotes replaced the monarch’s portrait with an image of Mount Everest.
Coins and banknotes
One rupee is divided into 100 paisa. Coins: Paisa and low-value rupee coins are little used in practice. Banknotes: 5, 10, 20, 50, 100, 500 and 1,000 rupees, issued by Nepal Rastra Bank.
Popular Nepalese Rupee pairs
What moves it
- The rupee is pegged to the Indian rupee, so its value against the dollar and dirham moves with the Indian rupee.
- Nepal Rastra Bank holds reserves to maintain the 1.60 peg.
- Nepal is a major labour-sending country, and the UAE is a significant remittance source (World Bank).
Structural facts reviewed 8 August 2026 · reviewed quarterly. Sources: Nepal Rastra Bank · World Bank. Live rates are mid-market — see our Methodology and Editorial Policy.