Nepal Rastra Bank (NRB), the central bank of Nepal, has invited international bids for the design, minting, and supply of 400 million one-rupee coins. The initiative aims to streamline retail transactions and improve the overall management of currency in circulation.
The NRB’s Currency Management Department issued a notice calling for sealed proposals from foreign companies that have already been pre-qualified. The procurement process will follow a ‘single-stage, two-envelope’ method, requiring bidders to submit technical and financial proposals in separate sealed envelopes within a single main envelope.
Pre-qualified companies eligible to participate include China Banknote Printing and Minting Corporation from China, De La Rue International from the United Kingdom, Giesecke Devrient Currency Technology from Germany, Joint Stock Company from Russia, Oberthur Fiduciaire SAS from France, and Polish Securities Printing from Poland.
Companies interested in bidding must pay a fee of Rs 20,000 for the tender documents and submit a minimum bid security equivalent to USD 148,000. The bid validity period is set for 120 days, with the bid security valid for an additional 30 days thereafter.
A pre-bid meeting will be held on October 15 at 12 PM at the NRB’s Currency Management Department. Interested companies must submit their bids to the central bank by 12 PM on November 3. The received bids will be opened on the same day at 1 PM.
The primary functions of the NRB’s Currency Management Department include issuing Nepali notes and coins and maintaining adequate currency levels to facilitate the payment system. Under the leadership of Governor Prof. Dr. Bishwanath Poudel, the central bank anticipates that the supply of 400 million new coins will ease retail transactions and reduce inconvenience in small payments. Ramu Poudel serves as the Executive Director of the Currency Management Department.
NRB previously introduced a golden-coloured one-rupee coin, minted with the year 2077 (BS), into circulation on March 8, 2022. The obverse of that coin featured a map of Nepal with its seven provinces against a backdrop of mountains, hills, and the Tarai region, along with “Re One” in English and “रुपैँया १” in Devanagari. The reverse included a tactile dot to help visually impaired individuals identify the coin’s denomination.
The selected company will be responsible for the entire process, from designing the one-rupee coins to their minting and supply. While the NRB expects the new coins to improve retail currency management, details regarding the specific design of the new 400 million coins and the exact timeline for their circulation remain undisclosed. The central bank also reserves the right to accept or reject any or all bids, either fully or partially.
