NPR (Nepalese Rupee)

AAA

DEFINITION of 'NPR (Nepalese Rupee)'

The currency abbreviation or currency symbol for the Nepalese rupee (NPR), the currency of Nepal. The Nepalese rupee is made up of 100 paisa and is often represented by the symbol Rs or Rp. Nepal has three main currency exchange rates: the central bank rate (official), the private bank rate (more generous, but still legal), and the black market rate (set by shops and travel agents - more generous still, but illegal).

INVESTOPEDIA EXPLAINS 'NPR (Nepalese Rupee)'

First introduced in 1932, the Nepalese rupee replaced the Nepalese silver mohar at a rate of 2 mohar to 1 rupee. In 1993, the Neplaese rupee was pegged to the value of the Indian rupee.

RELATED TERMS
  1. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  2. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  3. Authorized Forex Dealer

    Any type of financial institution that has received authorization ...
  4. Currency

    A generally accepted form of money, including coins and paper ...
  5. Forex - FX

    The market in which currencies are traded. The forex market is ...
  6. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
Related Articles
  1. How To Pay Your Forex Broker
    Forex Education

    How To Pay Your Forex Broker

  2. Forex Taxation Basics
    Forex Education

    Forex Taxation Basics

  3. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  4. Forex Education

    "Do The Right Thing" For Trade Breakouts

comments powered by Disqus
Hot Definitions
  1. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  3. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  4. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  5. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center