Continued increase in the value of the US dollar: Nepalese rupee is at its weakest point in history

Kathmandu, 30 Baisakh. The value of the US dollar against the Nepali currency has again set a new record. According to the foreign currency exchange rate published by the Nepal Rastra Bank for Wednesday, the value of the dollar has increased for the third day in a row. According to the central bank, today the buying rate of one US dollar has reached 152 rupees 71 paisa and the selling rate has reached 153 rupees 31 paisa. This upward journey of the dollar has increased the risk of imported inflation in the Nepalese economy. Looking at the statistics, the selling rate of the dollar was 151 rupees 48 paisa last Monday, but on Tuesday it increased to 152 rupees 80 paisa. Today's price has increased by almost two rupees compared to Monday. Although there is some benefit in the remittances sent by Nepalis working abroad when the dollar is strong, the price of petroleum products, food and electronic goods for Nepal, which is dependent on imports, will increase and the consumers will be directly burdened.

Along with the dollar, other major currencies are also higher. Today, the selling rate of European Euro has been fixed at 180 rupees 02 paise and UK Pound Sterling at 207 rupees 53 paise. Similarly, the selling rate of Qatari riyal is 42 rupees 06 paise and Saudi riyal is set at 40 rupees 86 paisa towards the currencies of the Gulf countries. The fixed exchange rate of Nepali currency against Indian rupee remains unchanged. The National Bank has informed that this rate may be revised at any time as required and the rate set by commercial banks may vary.