Stories Tagged 'Rupee'
The Nepali rupee hit fresh lows against the US dollar with Nepal Rastra Bank (NRB) fixing the exchange rate at 113.25 per dollar for Thursday.
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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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Nepali currency has fallen to the lowest level in the last 13 months following depreciation in the value of Indian currency with which Nepali rupee is pegged.Nepali rupee will open for trading at 106.67 against the US dollar on Tuesday, down 77 paisa than on Monday, Nepal Rastra Bank’s reference rate shows. The rupee was last traded at this level on March 14, 2017.
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The Indian rupee hit a more than 1-1/2 year high on Friday after the Reserve Bank of India (RBI) held its policy rate and expressed concerns about inflation, raising expectations it would no longer cut rates this year, while bonds fell and shares edged lower.
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The Nepali rupee rose to a four-month high against the US dollar as the Indian rupee, with which it is pegged, appreciated following a major victory for Indian Prime Minister Narendra Modi’s party in the Uttar Pradesh state legislative assembly election.
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The Nepali rupee plunged to an all-time low against the US dollar for a second time in a year on Thursday, with Nepal Rastra Bank (NRB) fixing the exchange rate at Rs110.28. It was last traded at this level on February 26, 2016.
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Tags: rupee