The Nepali rupee has reached yet another historic low beyond Rs 98 for a US dollar as the Indian currency continued its slide.
The reference rate determined by Nepal Rastra Bank stands at Rs 98.05 as selling rate for tomorrow based on today’s forex trading. Likewise, NRB has fixed the buying rate for dollar at Rs 97.45 for tomorrow.
The Indian rupee — with which the Nepali currency is pegged — dropped to IRs 61.10 — a record low for closing, pulling along the Nepali rupee in the freefall. On August 1, the Nepali currency had reached a previous low of Rs 97.73.
Since the last couple of months, the dollar has become stronger against most of the other currencies as its economic condition seems to have improved significantly. The Nepali currency depreciated by more than eight per cent against the US dollar in the last two months alone.
There is hope that the US’s less than charming employment data released two days back and the Indian government and central bank’s intervention might save the currency from plunging further tomorrow, according to Indian media reports.
src : THT
The reference rate determined by Nepal Rastra Bank stands at Rs 98.05 as selling rate for tomorrow based on today’s forex trading. Likewise, NRB has fixed the buying rate for dollar at Rs 97.45 for tomorrow.
The Indian rupee — with which the Nepali currency is pegged — dropped to IRs 61.10 — a record low for closing, pulling along the Nepali rupee in the freefall. On August 1, the Nepali currency had reached a previous low of Rs 97.73.
Since the last couple of months, the dollar has become stronger against most of the other currencies as its economic condition seems to have improved significantly. The Nepali currency depreciated by more than eight per cent against the US dollar in the last two months alone.
There is hope that the US’s less than charming employment data released two days back and the Indian government and central bank’s intervention might save the currency from plunging further tomorrow, according to Indian media reports.
src : THT
