‘NRB preparing to issue digital currency’

KATHMANDU: Nepal Rastra Bank (NRB) is learnt to have been preparing to issue digital currency. According to NRB Executive Director Guru Prasad Poudel, 11 countries in the world have their digital currency and the central bank is also studying the requirements and making preparations for issuing its own digital currency. Poudel said this while addressing a programme organised to sign and exchange a memorandum of understanding (MoU) about finance and digital literacy between Machhapuchchhre Bank and the Private and Boarding School Organisation of Nepal (PABSON) today. The latest data about digital transactions show a significant volume of it. On average, Nepal sees monthly digital transactions of Rs 40 billion. In the month of Baisakh (mid-April to mid-May, 2023), 8.6 million people made transactions worth over Rs 26 billion through QR codes. The use of digital transactions is increasing, suggesting the need for issuing digital currency, it is said. The central bank observes the current fiscal year as the Digital Payment Promotion Year. READ ALSO:

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