Nepal Rastra Bank to issue Rs 400 million coins of Rs 1 crore

KATHMANDU: Nepal Rastra Bank (NRB) has invited international tenders for the supply of 40 crore new coins of Rs 1 denomination. The Currency Management Department of the Nepal Rastra Bank (NRB) has invited tenders from pre-qualified security coin takkari companies for the design, minting, supply and delivery of 400 million pieces of coins in circulation.

According to the Rastra Bank, the bids have been invited through the ‘single stage, two invelope’ method through the International Competitive Bidding (ICB) process. Interested candidates can purchase the tender documents from the Department of Currency Management at Thapathali, Kathmandu or the Takmari Division at Babarmahal till November 2, 2026. The fee for this is 20,000 rupees, 131 US dollars or 115 euros.

Nepal Rastra Bank (NRB) will call for bids on October 15 at 12 noon. Bidders will have to submit sealed bids by 12 noon on November 3. The bidding will open at 1 pm on the same day. The bidders will have to submit a minimum bid of USD 148,000 or equivalent as a collateral.

The Nepal Rastra Bank (NRB) is preparing to manage the reserve of Rs 1 denomination coins required in circulation through this process.