; code: NPR) is the official currency of the Federal Democratic Republic of Nepal.

[2] In 1955, 4 Paisa coins were minted, made from rifle cartridge cases from World War II that were used by the Gurkha soldiers who fought against the Imperial Japanese in the Pacific.

The legends found on the last issues of Gyanendra revert to Nepal sarkar ("Nepalese government"), thus omitting the reference to the king.

Notes of these denominations which were issued in 2009 and thereafter are printed on paper which has a Rhododendron flower as watermark instead of the royal portrait and were therefore released without the additional overprint in red.

[citation needed][7] Since 2007, Nepalese rupee banknotes have been produced by Perum Peruri, the mint company of Indonesia.

In 1952, the government of Nepal officially pegged the Nepalese rupee at रु1.28 = ₹1, although the market rate remained at रु1.60 = ₹1.

A hard peg of रु1.60 = ₹1 was instituted in 1960, which was revalued to रु1.0155 = ₹1 when the Indian rupee was sharply devalued on 6 June 1966.