Nepal Rastra Bank (NRB) has selected a Chinese company to print 420 million 50-rupee denomination notes.
Beijing-based M/S China Banknote Printing and Minting Corporation has been assigned the responsibility of printing Nepali notes.
The Department of Currency Management has stated that an agreement was signed to this end on November 11. According to the Department, the company has signed an agreement to print notes for US $1,422,535 and 21 cents.
The NRB has stated that the Chinese company was selected because it placed the lowest bid in a tender issued on July 25.
Earlier, the central bank had signed an agreement with the same company to print 430 million 1000-rupee notes for US $16.985 million.
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