KATHMANDU, Jan 7: Nepal Rastra Bank (NRB) has initiated a plan to issue commemorative coins representing all seven provinces, each valued up to Rs 4,000. Thaneshwor Acharya, Head of the Mint Division within the Currency Management Department of NRB, said the process of coin issuance has started.
The plan involves selecting symbolic elements from the religious, historical, and cultural heritage, as well as literary heritage of each province for the creation of these souvenir coins.
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"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 the final approval from the government.
The release of the province-specific commemorative coins is anticipated by the end of the current fiscal year. Among the 30,000 coins planned, 20,000 will be crafted from silver, valued at Rs 4,000 per 10,000 coins, and the remaining 10,000 will be cupronickel coins, each worth Rs 1,600 per 10,000 coins. Additionally, cupronickel coins will be priced at Rs 100 each.
Currently, the NRB is in the process of printing Rs 5 coins.
