KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.

Nepali rupee records all-time low against USD

The Nepali currency has registered an all-time low against the US dollar on Sunday, according to the exchange rate fixed by Nepal Rastra Bank (NRB).

As per the reference rate fixed by the central bank, Rs 120.68 is needed to purchase one US dollar. Nepali rupee is pegged with the Indian currency. So, a slide of Indian rupee causes Nepali rupees to plunge against the USD.

Nepal-made face masks selling in the Indian market

The face masks produced in Tikapur of Kailali are being sold in the Indian market to remain safe from coronavirus (COVID-19) global pandemic.

Indian traders from the border towns have been coming to Tikapur to buy face masks after the shortage of face masks in their home market with masks selling like hot cakes amidst the coronavirus fear. The wholesale price of face masks manufactured by the Mahalaxmi Garment in Tikapur is Rs 15 per piece.

Bandipur waives 50% tax for business firms

Bandipur Rural Municipality in Tanahun district has announced a waiver of 50 percent tax to the commercial firms after the business enterprises here have suffered from the effects of COVID-19.

With the announcement of the local government, the entrepreneurs here have expressed happiness calling it a ‘welcome step’.

All services except essentials closed from today

All offices except those providing emergency services closed from Sunday till April 3 to combat a possible outbreak of the coronavirus epidemic in the country.

In an address to the nation on Friday, Prime Minister KP Oli had announced to that effect. As per Nepal Gazette, essential services include postal, telephone service, transporting passenger and goods through water, land and airways, printing and government press, communication service, internal security service, drinking water, services related to tourist shelter, petroleum products, hospital, banking, insurance, electricity and transport, storage, delivery of daily essentials and weather forecasting among others.

Four held for black-marketing hand sanitizer, masks

A joint monitoring team from the District Administration Office (DAO) and District Police Office, Dhanusha arrested four pharmacists on Sunday on the charge of supplying hand sanitizers and face masks on the black market.

Police arrested Sanjay Sah of Susmita Medical Hall, Anil Yadav and Prabhans Chaudhary of Atal Pharmacy and Sanjaya Saha of Sampurna Medical. They were caught red-handed by the district police office, Dhanusha said. They are under investigation.

Over 500,000 people leave Kathmandu in four days

More than 500,000 people have left the Kathmandu Valley in the last four days owing to the fear of COVID-19.

According to the Metropolitan Traffic Police Division, the number of people leaving Kathmandu Valley for their hometown via Nagdhunga, Jagati, Pharping and Nagarjun checkpoints has increased significantly in the last two days. The outflow from the valley has gone wildly since March 19 deserting the formerly busy streets.

The streets of Kathmandu saw fewer vehicles from Sunday afternoon.

Hotel entrepreneurs ready to convert hotels into quarantine

Hotel entrepreneurs say they are ready to hand over all hotels in Kathmandu Valley to the government to turn them into quarantine.

A meeting of Chairmen of nine different units of Kathmandu under the leadership of Hotel Professional Federation Nepal decided to this effect. Chairman of Hotel Professional Federation Nepal Hiradhwoj Shah said the government should arrange necessary health workers, security personnel and infrastructures for turning hotels into quarantine.

(Compiled and prepared by Swastik Aryal and Nitish Lal Shrestha)

Nepal Economic Digest is a daily morning email digest, basically relatable summations of the most important business news, happenings from Nepal into easy-to-understand summaries. The Institute for Strategic and Socio-Economic Research (ISSR), Nepal’s independent think tank, and Khabarhub — Nepal popular news portal — have joined hands to disseminate news from Nepal in the form of Economic Digest.