Nepali rupee continues to depreciate following IC devaluation against US dollar
Nepali currency has continued devaluating against the US dollar as the Nepal Rastra Bank has fixed the selling exchange rate at Rs. 105.35 per dollar for Thursday.
Nepali rupee has been continuously depreciating following the devaluation of Indian Currency against the greenback. The exchange rate of Nepali currency was fixed at Rs. 105.31 per dollar for Wednesday.
The Indian rupee, with which Nepali Currency is pegged, has slipped to a fresh record low of Rs 68.80 per dollar today.
India has been suffering higher current account deficits as the foreign investors are pulling out their investment from the country due to economic challenges.
The IC has dipped by nearly 25 percent so far in the year 2013, according to Indian media. nepalnews.com