KTM2DAY.com
KATHMANDU TODAY

Nepali rupee depreciates to over Rs. 104 a dollar

dollar

With the depreciation in the value of Indian currency against dollar, Nepali rupee is pegged over Rs. 104 a dollar in the domestic market on Thursday.

The Indian Currency (IC) further depreciated to over IRs. 65 a dollar today.

Though the Nepal Rastra Bank (NRB) had fixed the exchange rate at Rs. 101.47 a dollar for today, the value of dollar exceeded to over Rs. 104.

The exchange rate fixed by the commercial banks in Nepal may be higher from that of the central bank as there’s a system of increasing the buying and selling rates by the banks.

As the transaction rate of Nepali rupee is fixed at Rs. 160 for IRs. 100, the Nepali rupee is pegged directly with the Indian rupee depreciation.

The Nepali rupee had depreciated to new low of Rs. 102.05 a dollar against dollar on Wednesday as Indian rupee had depreciated to the new low of IRs. 64.11 a dollar on Tuesday.

The IC has been continuously depreciating against the US dollar as the foreign investors are pulling their investment out of India due to economic concern.

Related Post

Dollar at 11-month low of Rs 94.37 The Nepali rupee rode to an 11-month high against the US dollar on the back of a strong Indian currency following the optimistic Indian election res...
US Dollar strengthens furthermore against the Rupee Nepali rupee has fallen to a fresh 28-month low against the US dollar, as the value of the Indian rupee, with which the country’s currency is pegged...
Rupee hits record low against dollar Nepali currency has been brought to another historic low as the Indian rupee takes a beating against the US dollar. Today, the exchange rate of Nep...
Rupee hits three-month high against dollar Nepal Rastra Bank (NRB) has fixed the exchange rate for the US dollar at Rs 78.76 for Friday marking a three-month high for the Nepali rupee. The ru...
US Dollar Inches closer to 100 Line Nepali rupee has dipped to historic low of 99.02 against US dollar, as the Indian currency, with which Nepali rupee is pegged, continued its losing ...
US Dollar rate scales new height 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....
Rupee hits new low of 85.69 per dollar The freefall of Nepali rupee does not seem to stop, with the exchange rate for the domestic currency against the US dollar touching new lows almost ...
Nepali rupee devaluates further The value of Rupee plunged further to a new low of Rs 119.33 against US dollar, according to the reference rate set by the Nepal Rastra Bank for W...
Rupee drops to historic 100.60 per US dollar The Nepali rupee slumped to an all time low of Rs 100.60 against the US dollar on Monday as the Indian currency, to which the Nepali rupees is pegge...
Traders slash import volume as strong dollar bites The depreciation of the Nepali rupee against the US dollar has forced importers to cut down imports. With the dollar gaining sharply against the Ind...
Nepali rupee plummets to an all-time low against the US dollar The Nepali rupee plummeted to an all-time low against the US dollar on Tuesday, with the Nepal Rastra Bank (NRB) setting the exchange rate at Rs 84....
Strong dollar may fuel inflation Nepalis may have to face price rise in goods imported by paying US dollars before the Dashain festival due to the currency’s significant rise agains...
Nepal considers currency devaluation in medium term Nepal is considering devaluing its currency because a decades-old peg with the Indian rupee is posing problems for its monetary policy and competiti...
Hotels to accept foreign currency payments The central bank has permitted hotels to accept payments made by guests in foreign currency. The foreign exchange buying rate of the day fixed by h...
Commercial banks compete in interest rate to attract fixed deposits Commercial banks have started competing in interest rate to attract fixed deposits, breaching their earlier gentleman’s agreement. Banks had ag...
Nepali Banks lock horns in interest rate tug-of-war Commercial banks launched another interest rate war even as the Finance Ministry is studying the impact of rising interest rates on deposits. Soar...
Tourist arrivals expected to rise due to stronger dollar this season The country’s import sector may be watching the freefall of the Nepali rupee against the US dollar with hearts pounding, but the tourism industry is...