Nepal might be once more ruffling the feathers with India regarding the news about its new currency design and especially who will be making it.
What Is The Issue With Nepal’s Currency?
In recent news, it has come out that the Nepal Rastra Bank (NRB) has given the contract to print its official currency to a Chinese company.
According to ANI, the company has been entrusted to print 300 million copies of Nepali rupee 100-denomination banknotes and will also be featuring the new map of the country that includes disputed territories of Lipulekh, Limpiyadhura, and Kalapani.
Now, China Banknote Printing and Minting Corporation has been given the contract to design, print, supply and deliver these notes as stated by the central bank’s letter of intent.
In its letter, NRB stated, “This is to notify you that, it is our intention to award the contract for execution of the Procurement of the Designing, Printing, Supply and Delivery of 300 Million Pieces of Nepalese Rupees 100 Denomination Circulation Banknotes and Related Services (IFB No. NRB/CMD/ ICB/ G-03/080/81) to you as your bid price USD 8,996,592.00 (United States Dollars Eight Million Nine Hundred and Ninety-Six Thousand Five Hundred and Ninety-Two Only), as corrected and modified in accordance with the Instructions to Bidders is hereby selected as substantially responsive lowest evaluated bid.”
As per ANI, 8,996,592 US dollars is the estimated total printing cost for these new notes thus making each 100-rupee note’s printing cost to be around 4 rupees and 4 paisa.
Read More: Nepal Legalises Same-Sex Marriage Before India; Registers Its First Couple
Not The First Time This Issue Has Come Up
This is not the first time Nepal has stirred a row with India regarding its currency. In May of this year, it raised a lot of controversy with the new design of its 100 Nepalese rupee currency notes that included regions of Lipulekh, Limpiyadhura, and Kalapani.
The decision was confirmed by Nepal government spokesperson and Minister of Communication Rekha Sharma who stated that the decision was taken during a Cabinet meeting on 1 May 2024 that was chaired by Prime Minister Pushpa Kumar Dahal.
The issue here was the inclusion of a map of the country featuring Lipulekh, Limpiyadhura, and Kalapani. India claims these territories to be within its borders, so Nepal including them in their official currency was seen as controversial.
Speaking with ANI, Sharma stated, “The government has authorised the Nepal Rastra Bank to replace the current map with the updated version on the currency note.”
Tensions were already present regarding this issue since India included these three regions in its map released in November 2019. Nepal countered this by releasing its political map in May 2020 that included the very same territories.
Image Credits: Google Images
Sources: Business Standard, WION, ANI
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This post is tagged under: Nepal, Nepal currency, Nepal 100 nepalese rupee note, nepalese rupee, Nepal china, Nepal currency china, Nepal currency design china, Nepal India, Nepal India currency dispute, Nepal India territories
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