In response to the value of Indian currency, which hit record low of 68.75 against the greenback on Wednesday, the central bank fixed the exchange rate on the basis of rate settled by commercial banks.
According to the Reuters news agency, the Indian rupee on Thursday posted its biggest single-day gain since mid-January 1998. The partially convertible currency closed at 66.55 per US dollar, up 3.46 percent on the day. The unit had closed at 68.80 on Wednesday after hitting a record low of 68.85. [break]
Appreciation of the Indian currency, to which the Nepali rupee is pegged, against US dollar will make the Nepali rupee stronger in next trading days.
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