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ECONOMY

US dollar hits record high of Rs 141: What’s driving the surge?

The surge in the US dollar is a double-edged sword for Nepal. While remittances and exports could benefit, the rising cost of imports and inflation could put significant pressure on local households. As Nepal navigates these challenges, the government will need to carefully manage its fiscal policies and economic strategies to mitigate the impact of this global trend.
By Republica

KATHMANDU, Feb 8: The value of the US dollar has soared to an all-time high against the Nepali rupee, reaching Rs 140.43 on Friday, with some money exchangers offering the rate well above Rs 141. This marks the highest exchange rate ever set by Nepal Rastra Bank (NRB), surpassing the previous high of Rs 139.80 on Tuesday. By Thursday, the rate had jumped to Rs 140.25, reflecting a sharp increase over the past few days.

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