Stories Tagged 'Nepal rastra bank'
The Nepali rupee recorded an all-time low on Monday, with the Nepal Rastra Bank (NRB) fixing the exchange rate at Rs114.24 per US dollar for Tuesday.
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Nepal Rastra Bank (NRB), on Friday, announced a new provision wherein tourism businesses, export-oriented industries and hospitals are permitted to take loans in convertible foreign currencies from domestic banks and financial institutions. With this new provision in place, these sectors can also use borrowed foreign currency to import goods.
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Province 2 Internal Affairs Minister Gyanendra Yadav locked Nepal Rastra Bank’s district office in Janakpur for opening on a public holiday.
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The country’s trade deficit widened 26.7 percent in fiscal 2017-18 to Rs1,161.63 billion due to slow growth in export earnings and a steep jump in the import bill.
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The government and the central bank seem to be on a different page over the issue of concessional loans provided to victims of the 2015 Gorkha Earthquake.
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The Nepali rupee plunged to a record low against the US dollar with Nepal Rastra Bank (NRB) fixing the exchange rate at 112.20 per dollar for Tuesday. The rupee’s free fall is an effect of the steady depreciation of the Indian rupee with which it is pegged.
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