Dollar hits all-time high

Published On: June 29, 2022 05:44 PM NPT By: Republica  | @RepublicaNepal


Dollar hits all-time high

KATHMANDU, June 29: The value of the US dollar has hit an all-time high in Nepal. According to Nepal Rastra Bank, Nepalis have to pay at least Rs 126.34 to buy one US dollar as per the exchange rate determined by the country’s central bank on Wednesday.

Last Thursday, one US dollar was exchanged for Rs 125.72. Since the Nepali currency is pegged to the Indian currency, the weakening of the Indian currency against the dollar has also led to the depreciation of the Nepali currency.

Consequently, the remittances sent by those in foreign employment will have a higher value. This could help increase the remittance inflow in the country. In December 2017, the price of one dollar was only Rs 102. As the demand for dollars in the world market increased, the price of the US dollar increased across the world.

 

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