Nepal to issue coins commemorating SAARC summit

KATHMANDU: The central bank of Nepal will issue silver coins of NPR 2,000 denomination with the logo of SAARC to commemorate the 18th SAARC summit to be hosted by the country here later this month.

The Nepal Rastra Bank (NRB) will issue 3,000 coins with NPR (Nepalese Rupees) 2,000 denomination on the occasion of the Summit being organised in Kathmandu in November end, a top official of the NRB said.

The pure silver coins weighing 25 grams will have a SAARC logo along with the words "18th SAARC Summit Kathmandu 2014" on its head side.

On the tail side, there will be a picture depicting Maya Devi, the mother of Siddhartha Gautama, who later became Buddha and the baby Buddha along with the holy tree where he was born over 2,500 years ago.

The words "The Nativity of Buddha" will be embossed below the picture of Maya Devi and Buddha on the commemorative coins.

The board of directors of the NRB has already approved the design of the coins and sent the plan to the Finance Ministry for final approval.

After the approval by the Finance Ministry, the design will be finalised once the cabinet endorses the decision, the official said.