Dollar Exchange Rate At All Time High Of Rs. 125.72
June 23, 2022 | Investopaper
Nepal Rastra Bank (NRB) has set an exchange rate of Rs 125.72 per US dollar for Thursday. This is an all-time high exchange rate of dollar as compared to Nepali Rupees.
In recent days, the exchange rate of the US dollar against the Nepalese currency has been steadily rising. The dollar has risen by about Rs 23 in the last four and a half years. In December 2017, the price of one dollar was only 102 rupees.
Prices have also risen as demand for the dollar has soared in global markets. As the demand for US dollar in the world market has increased in the last few months, its effect is seen in Nepali currency.
There is a fixed exchange rate between Nepali Rupees (NRs.) and Indian Rupees (IRs). Along with fixed exchange rate, a large part of Nepal’s total foreign trade is dependent on India. Therefore, Nepali Rupees (NRs.) is also directly affected when the exchange rate of the Indian rupee fluctuates.
