September 22: Nepal Rastra Bank (NRB) has announced to begin the exchange of new crisp banknotes for Dashain festival from Friday, September 27. 

NRB in a statement informed that it will exchange the new notes from September 27 to October 4.  

The Currency Management Department Office of NRB in Baluwatar will exchange the notes for a week targeting the upcoming Dashain festival.

The central bank under the exchange facility will provide bundles of 100 notes of Rs 5, 10, 20, 50 and 100 with a maximum limitation of up to Rs 18,500 per person. 

The maximum limitation of the note exchange per person has been reduced this year in comparison to last Dashain when the limit was set at Rs 27,000.

Apart from the central bank’s counters at the Currency Management Department in Baluwatar, the exchange service will also be available at the central bank’s offices in Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthanagar, Nepalgunj, and Dhangadhi.

Likewise, Rastriya Banijya Bank Ltd, Agricultural Development Bank Ltd and Nepal Bank Ltd with their network of branches will also provide the note exchange facility across the country. 

NRB spokesperson Laxmi Prapanna Niraula informed New Business Age that the NRB which started the note exchange facility from October 7 last year had a target to exchange new notes worth Rs 13 billion. The central bank however could exchange notes worth Rs 12 billion last year.