Rupee all time low against US dollar

The exchange rate of Nepali Rupee (NPR) against US dollar has depreciated to a new low of Rs. 86.39 per US dollar breaking the previous record of Rs. 86.37 per US dollar in December, last year.

The Nepal Rastra Bank (NRB) has fixed the exchange rate at Rs. 86.39 per US dollar for Wednesday which is seven paisa more compared to Tuesday.

The central bank fixes the exchange rate based mainly on the fluctuation in the Indian currency against US dollar. The devaluation of Indian currency against US dollar is one of the reasons for the devaluation of rupee which is pegged with the Indian currency.

The Indian Rupee (IR) has also depreciated to a record low of 54.33 against US dollar on Wednesday due to poor economic progress and continued political uncertainty in Greece.

Due to economic crisis in the Eurozone, the value of dollar has been increasing around the world. nepalnews.com