A Chinese company has secured a contract to design and print 430 million pieces of Nepal’s Rs 1,000 denomination banknotes, officials said on Saturday (8 November 2025).

The Nepal Rastra Bank (NRB) issued a letter of intent to the China Banknote Printing and Minting Corporation on Friday (7 November 2025) for the design, printing, supply, and delivery of the notes, according to officials from the central bank.

The total project cost has been set at USD 16.985 million, as confirmed by NRB’s Currency Management Department. The Chinese company was selected on the basis of the lowest evaluated bid.

Officials added that the same firm has previously printed Nepalese banknotes of Rs 5, Rs 10, Rs 100, and Rs 500 denominations.