It costs Rs 2.5 to print a rupee coin!

Kathmandu. Nepal Rastra Bank (NRB) has decided to hand over the printing of 300 million coins at the rate of Rs 1 to a Polish company. NRB has made public the letter of intent to give the responsibility of coin printing to the company after the company was selected from the bidders.

According to the letter of intent, the printing of 300 million coins will be handed over at a cost of 51.15 million euros. That amount comes to 723.2 million at Tuesday’s exchange rate. In this regard, it costs Rs 2.41 to print a coin at the rate of Rs 1.

NRB has stated that the company has been selected as it has offered the lowest amount in the bid. While the Governor, Deputy Governor and Executive Director of NRB have been providing cashless banking to various vegetable and fruit shops as well as providing QR codes for providing digital gifts in Tempo and Pashupatinath temples, printing coins seems paradoxical in itself.

Such is the letter of intent of Rashtra Bank