Nepal Rastra Bank, the central bank of Nepal, has signed an agreement with a Chinese security printing firm to print the country’s new series of banknotes, including denominations of NRs 50, NRs 500 and the newly introduced NRs 1,000 currency note. The contract has been awarded to the China Bank Note Printing and Minting Corporation, a state-owned enterprise that specializes in the production of currency and other security documents.
According to Nepal Rastra Bank officials, the selected Chinese company will be responsible for designing, printing and supplying the fresh batch of banknotes within a period of nine months. The central bank will first provide detailed technical specifications, including security features, size, colour scheme and material quality. Based on these inputs, the Chinese firm will prepare prototype designs, which will be sent to Nepal Rastra Bank for verification and final approval. Printing will only begin after the designs are formally cleared by the bank.
A spokesperson of Nepal Rastra Bank stated that outsourcing the printing of currency is a standard global practice followed by many countries that do not have domestic high-security currency printing infrastructure. Nepal has, in the past, awarded similar contracts to international security printing agencies based on cost, security standards and delivery timelines.
Officials further explained that the latest contract aims to ensure uninterrupted supply of high-quality banknotes across the country. With rising cash transactions and replacement of old and damaged notes, there has been an increased demand for fresh currency in recent months. The introduction of new NRs 1,000 notes is also part of the central bank’s broader currency management strategy.
The China Bank Note Printing and Minting Corporation is among the world’s largest producers of currency and secure printing products. It supplies banknotes not only for China but also for several other countries in Asia, Africa and Europe. The company is known for incorporating advanced anti-counterfeiting technologies such as watermarks, holograms, micro-printing and security threads.
Nepal’s decision to award the contract to a Chinese firm also reflects the growing economic and technical cooperation between the two neighbouring countries. Over the past decade, China has emerged as a key trade partner and investor in Nepal, with significant involvement in infrastructure, energy, tourism and manufacturing sectors.
However, officials clarified that the choice of printer was a commercial and technical one, based on competitive bidding and security evaluation. The central bank emphasized that Nepal retains full control over the design, specification and release of its national currency. All security protocols will be strictly monitored to ensure the integrity of the printing process.
Once the new notes are printed and delivered, Nepal Rastra Bank will gradually circulate them through commercial banks and financial institutions across the country. The older series of worn-out notes will be systematically withdrawn from circulation as part of routine currency replacement.
The move is expected to support financial stability, enhance currency security and improve the overall efficiency of Nepal’s cash management system. Further updates regarding the design features and circulation timeline of the new notes are likely to be announced by the central bank in the coming months.
