The Controversy Over the Picture of a Monastery on the New Nepali 1 Rupee Coin: What Do the Prime Minister’s Office and Nepal Rastra Bank Say?
Photo source, Lo Ghekar Damodar Kunda Municipality
Officials at Nepal Rastra Bank have confirmed that the process to redesign the new 1 and 2 rupee coins is underway. However, the spokesperson of the Prime Minister’s Office has denied social media rumors that a monastery located in Upper Mustang would feature on the new 1 rupee coin.
The proposal is to issue the new coins in white-colored stainless steel instead of the earlier yellow-colored metal, a move the central bank says will reduce costs.
Nepal Rastra Bank has already discontinued printing 1 and 2 rupee banknotes but continues to mint coins to meet the daily need for small change.
Following reports that the new 1 rupee coin would replace Nepal’s map with an image of the Lo Ghekar Monastery in Mustang, many including opposition leaders have expressed concern and dissatisfaction.
The Council of Ministers granted Nepal Rastra Bank permission on Asar 32 to mint new 1 and 2 rupee coins.
Response from the Prime Minister’s Office
The spokesperson for the Prime Minister’s Office, Hemraj Aryal, stated that although a decision to mint new coins has been made, no decision has been taken to include the image of the monastery on them.
He said, “Regarding the 1 rupee coin, despite the interest shown, there has been no decision to feature the monastery’s image.”
The Prime Minister’s Office has not provided any further comment on this matter.
However, some experts amid the controversy still believe that Nepal’s map will remain on the 1 rupee coin.
About the Monastery in Question
Photo source, US Embassy/Facebook
After the Council of Ministers decision, rumors spread that the image of the eighth-century Buddhist monastery in Lo Ghekar, Damodarkunda Rural Municipality, Mustang, would replace Nepal’s updated map on the 1 rupee coin.
The current 1 and 2 rupee coins feature the updated map issued in 2020 according to the revised constitution, which includes Kalapani, Limpiyadhura, and Lipulekh, showing detailed border demarcations.
Both Nepal and India claim these territories, which led to diplomatic tension between the two countries.
The government under KP Oli had initiated including the new map on the 1 and 2 rupee coins.
At that time, 30 million 1 rupee coins and 10 million 2 rupee coins were minted.
The monastery is situated near Marang River in Upper Mustang at an elevation of 3,930 meters.
The historic monastery damaged by the 2015 earthquake was reconstructed with financial aid of US$285,000 in 2020 through the US Department of State’s Ambassadors Fund for Cultural Preservation grant.
Mustang-based NGO Norbusum Foundation took four years to complete the restoration and maintenance work.
Following the election, the new government’s plans to place the monastery image on currency notes sparked reactions related to border disputes and geopolitical issues.
CPN leader Bhim Rawal described the move as “against geographical integrity” and demanded government clarification.
Is the Cost to Mint a 1 Rupee Coin Higher Than That for a 2 Rupee Coin?
According to Nepal Rastra Bank spokesperson Guruprasad Paudel, the declining stock of coins has led to plans for issuing new 1 and 2 rupee coins.
“It costs more to produce a 1 rupee coin than a 2 rupee coin. The use of different metals and enamels affects both environmental and cost factors. The bank is currently discussing design changes and cost reductions,” he explained.
They plan to use stainless steel and reduce the coin size, which will help decrease production costs.
The logo and images on the coins will also be subject to change.
Previously, designs included outlines of heritage and religious sites such as Bagishwari in Nepalgunj, Janaki in Janakpur, and Tal Barahi Temple in Pokhara.
How Are Coin Designs Changed and Where Are Coins Minted?
A coin design committee chaired by the Governor of Nepal Rastra Bank, including experts from the fields of heritage and culture, oversees design revisions.
Recommendations on changes in color, weight, size, and design are forwarded to the Council of Ministers.
According to spokesperson Paudel, “Changes to elements like images and logos can only be implemented after government approval following committee recommendations. Otherwise, the bank can proceed with minting based on the current design details through a global tender.”
The current 1 rupee coins have been minted in Poland, and 2 rupee coins in the UK.
This time, in addition to Poland and the UK, six companies from Russia, China, Canada, Slovakia, and other countries are competing to mint the coins.
The cost to mint a coin had been about 2.40 rupees, and the rise in the exchange rate of the dollar has further increased costs, requiring fresh cost estimates.
You can also access information via various social media and digital platforms. The Nepali radio program airs daily around 8:45 pm.
