- Type
- Act
- Year
- २०१४ BS
- Status
- In force
- Category
- खण्ड ७: मुद्रा, बैङ्किङ्ग, बीमा, वित्तीय संस्था तथा धितोपत्र · Volume 7: Currency, Banking, Insurance, Financial Institutions and Securities
- Official text
- Official page Official text (PDF)
- English translation
- Official English translation archived copy: the original page is no longer online
Includes amendments up to: 2066 BS. Translations may not include later amendments. The Nepali text is the authoritative law.
Analysis drawn from official reports, court rulings and published research, each cited. Figures are being double-checked against the source documents; corrections are welcome.
What does it do?
- Passed in 1957 to spread the use of Nepali currency across the country, the Act was brought into force district by district between 2017 and 2022 BS and now applies nationwide. It defines Nepali currency as notes issued by the government or Nepal Rastra Bank and coins issued by the government.देशभर नेपाली मुद्राको प्रचलन बढाउन वि.सं. २०१४ मा जारी यो ऐन २०१७ देखि २०२२ सालसम्म जिल्ला–जिल्लामा क्रमशः लागू गरिएको थियो र अहिले देशभर लागू छ। नेपाल सरकार वा नेपाल राष्ट्र बैङ्कले निष्कासन गरेका नोट र सरकारले निष्कासन गरेका सिक्कालाई ऐनले नेपाली मुद्रा मानेको छ। Nepal Law Commission (lawcommission.gov.np), consolidated text Section 1 and commencement note, PDF p. 1; Section 2, PDF p. 2
- Anyone receiving payment for goods, fees, wages, rent or similar amounts must accept it in Nepali currency, even if the price was set in a foreign currency (converted at Nepal Rastra Bank's rate on the day of payment); the same applies to settling foreign-currency transactions. Transactions with the Government of Nepal and with persons or bodies it authorises are exempt.मालसामानको मोल, फी, ज्याला, मजदुरी, भाडा वा यस्तै रकम नेपाली मुद्रामा तिर्न ल्याएमा — रकम विदेशी मुद्रामा तोकिएको भए पनि भुक्तानीको दिन नेपाल राष्ट्र बैङ्कको विनिमय दरमा — बुझ्नैपर्छ; विदेशी मुद्रामा भएको लेनदेनको रकम बुझाउँदा पनि यही नियम लागू हुन्छ। नेपाल सरकार र सरकारले अधिकृत गरेका व्यक्ति वा संस्थासँगको कारोबारमा यो व्यवस्था लागू हुँदैन। Nepal Law Commission (lawcommission.gov.np), consolidated text Sections 3–5, PDF p. 2
- Refusing to accept Nepali currency offered under the Act is punishable by a fine of Rs 100 to Rs 1,000. The government may make rules to implement the Act.ऐनबमोजिम बुझाउन ल्याएको नेपाली मुद्रा नबुझेमा एक सयदेखि एक हजार रुपैयाँसम्म जरिवाना हुन्छ। ऐन कार्यान्वयनका लागि नेपाल सरकारले नियम बनाउन सक्छ। Nepal Law Commission (lawcommission.gov.np), consolidated text Sections 6–7, PDF p. 2
Gaps, loopholes and improvement ideas
- Outdated The High-Level Economic Reform Suggestion Commission found the Act, though relevant when passed, to be no longer relevant, because Section 52 of the Nepal Rastra Bank Act, 2058 already gives Nepal Rastra Bank the sole right to issue legal-tender notes and coins.उच्चस्तरीय आर्थिक सुधार सुझाव आयोगका अनुसार यो ऐन जारी हुँदा सान्दर्भिक भए पनि अहिले असान्दर्भिक भएको छ, किनकि नेपाल राष्ट्र बैङ्क ऐन, २०५८ को दफा ५२ ले कानूनी ग्राह्य नोट र सिक्का निष्कासन गर्ने एकाधिकार नेपाल राष्ट्र बैङ्कलाई दिइसकेको छ। High-Level Economic Reform Commission (उच्चस्तरीय आर्थिक सुधार सुझाव आयोग), submitted to the Ministry of Finance Legal reform chapter, para 20 (PDF p. 156, printed p. 89)
Ideas to fix it
- Repeal the Nepali Currency Circulation Promotion Act, 2014.नेपाली मुद्राको चलनचल्ती बढाउने ऐन, २०१४ खारेज गर्ने। Proposed by: High-Level Economic Reform Suggestion Commission (2081) High-Level Economic Reform Commission (उच्चस्तरीय आर्थिक सुधार सुझाव आयोग), submitted to the Ministry of Finance
Where does it conflict with other laws?
No conflict with another law is documented in the sources we have reviewed so far.