Kathmandu. The government has approved a new design of the one-rupee coin and decided to include the picture of Akash Bhairav along with the map of Nepal. The new design approved by the Council of Ministers has reached the Nepal Rastra Bank through the Ministry of Finance for implementation.
Earlier, Nepal Rastra Bank had sent the design of Mustang-based Ghar Monastery to the Council of Ministers for approval. However, the cabinet withdrew the proposal and directed to prepare a revised design, after which the picture of Akash Bhairav has been included in the new design.
According to the Nepal Rastra Bank Act, the new design or design change of any note or coin has to be approved by the cabinet. The new coins will retain the map of Nepal. Also, the size and weight of the coins will be changed.
According to NRB sources, the new coin will use steel instead of alloy in order to reduce the production cost as the construction cost of the one rupee coin is higher than the face value. It is expected that the use of steel will not only reduce the cost of production, but will also be environmentally sound and beneficial in the long run.
Earlier, efforts were made to reduce the weight of the coin. The new design will modify both the weight and size to make coin production more cost-effective.
Continuing with the cultural aspect, the new coin will retain 64 traditional dots. These dots are considered to symbolize the 64 Yoginis. According to the NRB, the images and symbols to be included in the coins will reflect Nepal’s history, culture and national identity.
