First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank (NRB) has issued a notice asking general public to exchange Qatari Riyal banknotes (Fourth Edition) within May 10 from different Banking Department of NRB, Provincial Offices of NRB, licensed banks and financial institutions and licensed money changers dealing in convertible foreign currencies.
The Qatar Central Bank has decided to withdraw Qatari Riyal banknotes of Fourth Edition from circulation from July 1 2021. As per NRB, NRB and banks and financial institutions will not be compelled to exchange Qatari Riyal banknotes of Fourth Edition after May 10.
Qatar Central Bank on February 24, had announced that it extended the circulation of the 4th Edition banknotes, until Thursday, July 1, 2021. Qatar Central Bank said that after this date, the banknotes will become illegal and indemnified currency, with the holder remaining entitled to recover its value from the Central Bank within a period not exceeding 10 years from the date of the withdrawal decision.
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