Nepali currency records highest depreciation at Rs. 99.02 per US dollar
The value of Nepali currency has depreciated to a new record low against the US dollar as the Nepal Rastra Bank has fixed the exchange rate at Rs. 99.02 per dollar for Saturday and Sunday.
However, the exchange rate fixed by the other commercial banks may differ from that of the central bank as the exchanged rate on Friday crossed over Rs. 99 a dollar. NRB had quoted exchange rate of Rs. 98.58 a dollar for today.
The previous lowest exchange rate was recorded at Rs. 98.60 per dollar on August 7.
The central bank fixes the exchange rate following the change in the value of the Indian currency against the dollar. The transaction rate of Nepali rupee is fixed at Rs. 160 for IRs. 100.
The Indian rupee has hit an all-time low of 62.03 to a dollar on Friday, the closing day of this week while the rupee had hit record low of IRS. 61.80 August 6. nepalnews.com