The exchange rate of Nepali Rupee (NPR) against US dollar has further depreciated to a new record low of Rs. 90.58 per US dollar today, breaking the previous record of Rs. 90.17 per US dollar on May31.
The Nepal Rastra Bank (NRB) 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 depreciated to a record low of 56.55 against US dollar on Thursday.
The Indian rupee fell to a record low against the dollar on Thursday, as the euro and other risk assets were hit by disappointment about the size of bond purchases announced by the Federal Reserve and by weak global economic data, reports Reuters. nepalnews.com