DEFINITION of 'Nepalese Rupee - NPR'
The currency of Nepal. The Nepalese rupee is broken into smaller units, called paisa, and is found in both coin and banknote form. It is managed by the central bank, the Nepal Rastra Bank.
BREAKING DOWN 'Nepalese Rupee - NPR'
The Nepalese rupee was created in 1932, and was initially pegged to the value of the Indian rupee. This peg was abandoned for a floating exchange rate based on a basket of currencies in 1983.