KATHMANDU: Nepal Rastra Bank has announced new exchange rates for foreign currencies on Saturday, with significant drops seen in the value of the U.S. dollar, euro, and pound sterling.
As of September 21, 2024, the buying rate for the U.S. dollar is set at Rs 134.41, with a selling rate of Rs 134.01. This marks a slight shift from Friday’s exchange, when the buying rate was Rs 133.60 and the selling rate stood at Rs 134.20.
The euro also saw a minor decrease. The Central Bank reported the euro’s buying rate at Rs 148.78 and its selling rate at Rs 149.54, down from Friday’s rates of Rs 149.07 for buying and Rs 149.74 for selling.
The UK pound sterling recorded one of the steeper declines, with Saturday’s buying rate set at Rs 177.59 and the selling rate at Rs 178.39, falling from Friday’s figures.
In addition to the major currencies, fluctuations were also noted in other exchange rates. The Swiss franc’s buying rate is Rs 157.02, and its selling rate is Rs 157.72.
The Australian dollar traded at Rs 90.78 for buying and Rs 91.19 for selling, while the Canadian dollar was valued at Rs 98.29 and Rs 99.73, respectively.
Currencies from Asia and the Gulf saw less dramatic movements. The Japanese yen (10 units) remained relatively stable at Rs 9.24 for buying and Rs 9.28 for selling.
The Chinese yuan traded at Rs 18.91 for buying and Rs 18.99 for selling, showing no change from the previous day.
Similarly, the Saudi Arabian riyal and the UAE dirham held steady, reflecting minimal shifts in the region’s currency market.
The Kuwaiti dinar continued to be one of the highest-valued currencies against the Nepali rupee, with a buying rate of Rs 437.20 and a selling rate of Rs 439.17. The Bahraini dinar followed at Rs 354.01 for buying and Rs 355.61 for selling.
Currency analysts attribute these changes to a combination of global market factors, including fluctuations in oil prices, geopolitical tensions, and central bank interventions.
With economic uncertainties persisting, the Central Bank is expected to closely monitor exchange rate movements in the coming weeks.
Nepal Rastra Bank updates exchange rates daily, offering critical insights for importers, exporters, and businesses reliant on foreign transactions.
Comment