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Indian Rupee to Nepalese Rupee
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About Indian Rupee
The Indian rupee is the official currency of India. The rupee is subdivided into 100 paise. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank derives this role from powers vested to it by the Reserve Bank of India Act, 1934. WikipediaAbout Nepalese Rupee
The Nepalese rupee is the official currency and legal tender of Nepal. It is also sometimes abbreviated as N₨ or Re./Rs. informally. The rupee is subdivided into 100 paisa, although coins of lower denominations are rarely used today. It is issued and regulated by the Nepal Rastra Bank, the central bank of Nepal.
The Nepalese rupee was introduced in 1932, replacing the silver-based mohar at a rate of 2 mohar = 1 rupee. Since 1994, it has been officially pegged to the Indian rupee at a rate of रु1.60 = ₹1, having previously been pegged at रु1.45 = ₹1.
In 2024, the Nepalese rupee is accepted for domestic transactions only within Nepal and is not legally circulated outside its borders. Foreign exchange is regulated by the central bank and subject to strict limits. Wikipedia