KATHMANDU, June 15: The Nepali currency further depreciated against the US dollar, reaching a record low value, with Nepal Rastra Bank (NRB) fixing the exchange rate at Rs 125.08 per dollar on Wednesday.
Last Thursday, the exchange rate stood at Rs 124.68 per dollar. In around a week's time, the Nepali currency has further gone down by 40 paisa per dollar.
Nepali rupee plunges to a historic low against US dollar; excha...
The global surge in dollar price has been attributed to the surging prices of crude oil. It has triggered the consumers’ price up in the global market.
“The dollar hit a fresh two-decade high against a basket of currencies on Tuesday, as traders braced for an aggressive rate hike from the US Federal Reserve this week to try to curb inflation,” reads a news report of Reuters, an international media.
The Nepali currency that is pegged with the Indian rupee has been affected with the falling graph of the Indian currency against the US dollar in recent days.
