Mt Everest to replace King on Nepalese currency

KATHMANDU: Nepal government has decided to replace King Gyanendra's picture in currency notes with that of the world's highest peak, the latest ignominy to befall the sidelined monarch.

The decision was taken at a cabinet meeting.

Nepal's central bank the Nepal Rastra Bank had proposed that the King's picture be replaced by either that of Lord Buddha or Mt. Everest.

"We decided to go for Mt. Everest as some Buddhist organizations were against having Buddha's picture on the paper note," Finance Minister Ramsharan Mahat said.

The cabinet decided to remove the King's picture from 10 rupee bills and replace it by the world famous mountain, cabinet sources said.

Nepal's King has been stripped of his powers in an Interim Constitution formed by an interim Parliament having representatives of the seven main parties and the Maoists, who have been demanding that the monarchy be abolished.

The fate of the 238-year-old monarchy will be decided by a Constituent Assembly to be elected in June.