Nepalese rupee
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The Nepalese rupee (रुपैयाँ; symbol: रु; code: NPR) is the official currency of the Federal Democratic Republic of Nepal. The Nepalese rupee is subdivided into 100 paisa. The issuance of the currency is controlled by the Nepal Rastra Bank, the central bank of Nepal. The Nepalese rupee was introduced in 1932 when it replaced the Nepalese mohar at the rate 2:1.The Nepalese rupee (रु) has been pegged to the Indian rupee (₹) at the rate रु1.60 = ₹1 since 1994; prior to this, it had been pegged at the rate रु1.45 = ₹1.
The rupee was introduced in 1932, replacing the silver mohar at a rate of 2 mohar = 1 rupee. At first, the rupee was called the Mohru in Nepali.
Country
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Nepal
The name "Nepal" is first recorded in texts from the Vedic period of the Indian subcontinent, the era in ancient Nepal when Hinduism was founded, the predominant religion of the country. In the middle of the first millennium BC, Gautama Buddha, the founder of Buddhism, was born in Lumbini in southern Nepal. Parts of northern Nepal were intertwined with the culture of Tibet. The centrally located Kathmandu Valley is intertwined with the culture of Indo-Aryans, and was the seat of the prosperous Newar confederacy known as Nepal Mandala. The Himalayan branch of the ancient Silk Road was dominated by the valley's traders. The cosmopolitan region developed distinct traditional art and architecture. By the 18th century, the Gorkha Kingdom achieved the unification of Nepal. The Shah dynasty established the Kingdom of Nepal and later formed an alliance with the British Empire, under its Rana dynasty of premiers. The country was never colonised but served as a buffer state between Imperial China and British India. Parliamentary democracy was introduced in 1951 but was twice suspended by Nepalese monarchs, in 1960 and 2005. The Nepalese Civil War in the 1990s and early 2000s resulted in the establishment of a secular republic in 2008, ending the world's last Hindu monarchy.