USD makes an all time high against Nepali rupees; 1$ equals Rs 126.05 « Khabarhub
Monday, June 24th, 2024

USD makes an all time high against Nepali rupees; 1$ equals Rs 126.05

30 June 2022  

Time taken to read : 2 Minute

  • A
  • A
  • A

KATHMANDU: The value of the United States Dollar (USD) has made a new contemporary record in Nepal with one USD trading for Nepali Rs 126.05 on Thursday.

The Central Bank, Nepal Rastra Bank (NRB), fixed the buying rate for one USD at Rs 126.05 and the selling rate at Rs 126.65 today.

Likewise, the value of USD to Nepali rupees was 125.74 (Buy) and 126.34 (Sell) on Wednesday.

The USD has been gaining strength against Nepali rupees of late as the latter continues to fall.

The strengthening of USD is attributed to the prolonging confrontation between Russia and Ukraine.

The war between Russia and Ukraine has devalued the Indian rupee, against which the Nepali rupees is pegged. As the Indian rupee fell, so did the Nepali rupee.

When the dollar rises in value, only the tourism industry, exporters, and remittance sectors benefit.

Although Nepal has a competitive advantage in remittances and exports, the cost of imported items appears to be high due to significant imports.

Publish Date : 30 June 2022 18:47 PM

Ram Bahadur Bamjan convicted in child sexual abuse case

SARLAHI: The alleged ascetic, Ram Bahadur Bamjan, has been convicted

Kathmandu Metropolitan City unveils Rs 25.63 billion budget

KATHMANDU: Kathmandu Metropolitan City has unveiled a budget of RS

Parliament staffs end strike following seven-point agreement

KATHMANDU: The strike by the staff of the Federal Parliament

Seventh Regional EIMUN 2024 begins in Kathmandu

KATHMANDU: The Seventh Regional Everest International Model United Nations (EIMUN

Home Ministry forms committee to end Chhaupadi tradition

KATHMANDU: The Home Ministry has formed a committee to investigate