US dollar hits record high with Rs 117.5 today

Published On: October 4, 2018 01:17 PM NPT By: Republica  | @RepublicaNepal


US dollar hits record high with Rs 117.5 today

KATHMANDU, Oct 4: The value of US dollar has reached an all-time high record against Nepali Rupee. Nepal Rastra Bank., the central bank of Nepal, has fixed the selling price of a US dollar at Rs 117.5 today.

Its selling price was pegged at Rs 116.96 on Wednesday while the price of a US Dollar was Rs 117 on September 19.

The exchange rate of US dollar was going down ever since.

The value of Nepali Rupee is directly affected when the value of Indian Rupee against US dollar goes down as Nepali Rupee is pegged at Rs 160.15 against Indian Rupee.

The demand of US dollar increases when the internal economy of America becomes stronger.

This value of US Dollar has been going upward since the last few weeks after America adopted policy to encourage its own citizens to invest in their own country and the Central Bank hiked the interest rate of deposits.

Nepal Rastra Bank has fixed the value of Indian Rupee at Rs 173.75 for Thursday.


 

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