2 Rupees - Birendra Bir Bikram magnetic

Nepal's shift to brass-plated steel for this denomination in the mid-1990s was driven by the chronic undervaluation of the earlier stainless steel issues — the raw metal cost was creeping uncomfortably close to face value. The magnetic core solved that, and the change coincided with broader monetary rationalization under the Rastra Bank as Nepal managed currency pressures tied to its fixed exchange relationship with the Indian rupee.

The KM#1074.1 designation distinguishes the magnetic variant from its non-magnetic predecessor, a split collectors frequently overlook when assembling type sets.