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Nepal stops using currency with kings' heads
Nepal's central bank has ordered banks and businesses to stop using currency notes with kings' heads on them. The Nepal Rastra Bank said on Tuesday that it had given the public until Monday to exchange the notes for new ones depicting Mount Everest.
Nepal's central bank has ordered banks and businesses to stop using currency notes with kings' heads on them. The Nepal Rastra Bank said on Tuesday that it had given the public until Monday to exchange the notes for new ones depicting Mount Everest.
The centuries-old monarchy was abolished in Nepal in 2008 and the former king has been living as a civilian since then. The government has been removing links to former kings and the royal family, including the word "royal" from state-run agencies and national airlines.
The central bank says a few of its counters will continue to exchange notes to stop the public from panicking. It estimates that notes worth 10 billion rupees ($135 million) still have to be exchanged, despite the warning first given in October.
