Stories Tagged 'Nepali rupee'
It is time to have a long-term plan to manage the Nepali rupee
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The Nepali rupee plunged to a fresh low on Friday, with the Nepal Rastra Bank (NRB)—the country’s central bank, fixing the exchange rate at Rs118.33 per US dollar for Saturday. The Nepali rupee’s freefall is an effect of the steady depreciation of the Indian rupee with which it is pegged.
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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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Nepali rupee has been taking a beating for the last two weeks, as the Indian rupee has come under pressure after Donald Trump won the US presidential election, triggering US dollar’s biggest rally “in eight years”.
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Festive shoppers will have to open their wallets wider for their purchases this season as imports are set to become dearer with the Nepali rupee falling against the US dollar.
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