Come Tuesday and one of the last visible signs of Nepal’s former monarchy — currency notes carrying portraits of ex-kings — will soon go out of circulation.
Nepal’s central bank, Nepal Rashtra Bank, issued directions to banks and financial institutions not to accept such notes from March 15. The move follows a decision taken by NRB in August last year to replace traces of the Shah dynasty from currency notes.
Monday was the last day for citizens to exchange old notes bearing portraits of the former kings, from banks and financial institutions. Since the past eight months, NRB had circulated large amounts of fresh notes without the kings’ portraits.