NRB Unveils Plan to Issue Commemorative Coins Representing 7 Provinces

Nepal Rastra Bank (NRB) has initiated a comprehensive plan to issue commemorative coins, each dedicated to one of the seven provinces in the country. The coins, valued up to Rs 4,000, will showcase symbolic elements from the rich religious, historical, cultural, and literary heritage of each province.

Thaneshwor Acharya, Head of the Mint Division within the Currency Management Department of NRB, announced that the coin issuance process is already underway. The NRB has conducted visits to five provinces, with Sudurpaschim Province scheduled for study by January 29. The research process involves selecting representative elements that capture the essence of each province.

“We have already conducted visits to five provinces and are actively engaging in the research process. The Sudurpaschim Province is scheduled for study by January 29,” stated Acharya.

Upon completion of the study, the Mint Division will present the proposal to issue the coins to the board of directors through the management committee. The production of coins will commence upon receiving the final approval from the government.

The release of these province-specific commemorative coins is anticipated by the end of the current fiscal year. The plan involves the creation of 30,000 coins, with 20,000 crafted from silver, each valued at Rs 4,000 per 10,000 coins. The remaining 10,000 will be cupronickel coins, each worth Rs 1,600 per 10,000 coins, with individual cupronickel coins priced at Rs 100.

In addition to this initiative, the NRB is concurrently in the process of printing Rs 5 coins, demonstrating the central bank’s commitment to enhancing and diversifying the country’s currency offerings.