Kathmandu. Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with China Banknote Printing and Minting Corporation to print Rs 1,000 denominations.
The company will design, print and supply 430 million new banknotes of Rs 1,000 denomination.
Nepal Rastra Bank (NRB) had called for a global tender on September 26 to award the contract for printing banknotes. The corporation was selected by the bank for offering the lowest price among the bidders.
According to the NRB, the contract agreement was signed with the company on Thursday in accordance with the provisions of Clause 137 of the Public Procurement (Fourteenth Amendment, 2082) Regulations, 2064 and the Note Printing and Coin Minting Directive, 2065 (as amended by Second Amendment, 2081).
For this purpose, the NRB has to pay 0.0395 US dollars (Rs 5.53 per current exchange rate) for printing and supply cost. The central bank has agreed to pay a total of 16.985 million US dollars (Rs 2.42 billion as per the current exchange rate).
