New banknotes from Oct 16

KATHMANDU: Banks will start issuing crisp banknotes for the Dashain-Tihar festive occasion from October 16.

In a notice issued on Sunday, the Nepal Rastra Bank (NRB) said that people can exchange their old banknotes for new ones at its Currency Management Department and various bank branches in the Kathmandu Valley. Similarly, individuals residing outside the Kathmandu Valley can exchange their banknotes at the provincial offices of the central bank, as well as the branch offices of Rastriya Banijya Bank Ltd.

Each customer can exchange a maximum of Rs 18,500, which equates to bundles comprising banknotes of Rs 100, Rs 50, Rs 20, Rs 10, and Rs 5 denominations. Each bundle contains 100 bills.

NRB has been issuing new banknotes for Dashain-Tihar celebrations for the past many years.