Stories Tagged 'Us dollar'
A rising US dollar is going to make the upcoming festive season painful for the general public as dearer imports will force them to fork out more cash to buy the same amount of goods. Nepal Rastra Bank (NRB) fixed the exchange rate of the US dollar at Rs116.10 on Thursday. Compared to the beginning of the current fiscal year which started in mid-July, the Nepali rupee has depreciated by almost Rs7 per dollar.
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The government’s aim of achieving this year’s target of inflation rate and economic growth seems like a pipe dream as the government tackles soaring petroleum prices and the strong US dollar, said economists.
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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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Police arrested Sarbadananda Jaishawal in possession of $10,000 from Hetauda in Makwanpur district on Friday.
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Nepal Police on Monday arrested a Chinese national from Tribhuvan International Airport in Kathmandu, while she was trying to smuggle US Dollars to China.
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Prices of edible oil have increased by up to Rs10 per litre over a month as imports have become costlier due to strong US dollar and rising prices of crude oil in the international markets.
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