Dollar rises to new heights – Online Khabar

Dollar rises to new heights - Online Khabar

July 9, Kathmandu. As the US dollar strengthens, the Nepalese rupee, which has a stable exchange rate with India, continues to depreciate.

Nepal Rastra Bank has set the exchange rate of one US dollar at Rs 125.72 paise for Thursday. The dollar was trading at 125.22 paise on Wednesday. As the dollar strengthens so far, there will be a lot of Nepali rupee to invest in buying dollars. Due to the import-based economy, the strengthening of the dollar will increase the outflow of imports.

As dollar reserves and balance of payments deficits deepen, the strength of the dollar increases the risk of further crisis in the economy, experts say.

According to Nepal Rastra Bank, the depreciation of Nepali Rupee against the US dollar has been 3.71 percent in the first ten months of the current fiscal year.

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