Chinese Company Wins Contract to Print Nepal’s ₹1,000 Banknotes
A Chinese firm has secured the contract to print Nepal’s ₹1,000 denomination banknotes, according to the Nepal Rastra Bank’s Currency Management Department. The total project cost has been set at $16.985 million. The contract was awarded following a global tender process, with the Chinese company offering competitive pricing and advanced security printing technology. Officials said the move aims to ensure timely supply of high-quality currency notes with enhanced security features to prevent counterfeiting. Nepal has previously relied on foreign companies from countries like India, the U.K., and Germany for its currency printing requirements. The decision reflects Kathmandu’s growing financial and technological cooperation with Beijing. However, the development has also drawn attention due to Nepal’s increasing dependence on Chinese firms for critical projects. The new notes are expected to enter circulation in 2026, replacing older series currently being phased out by the central bank.
Chinese Company Wins Contract to Print Nepal’s ₹1,000 Banknotes
