डलरको ऐतिहासिक उकालो, नेपाली अर्थतन्त्रमाथि बढ्दो दबाबDollar Hits Record High in Nepal, Pressure Mounts on Economy

The US dollar has reached an all-time high against the Nepali rupee, adding fresh pressure to Nepal’s import-dependent economy. According to the exchange rates published by the central bank for Saturday, the buying rate of one US dollar has climbed to Rs. 153.25, while the selling rate has reached Rs. 153.85 — the highest level recorded so far in Nepal.

The sharp rise comes amid a continuous strengthening of the dollar in the international market. Just a day earlier, the buying rate stood at Rs. 152.93. The steady appreciation of the American currency has begun raising concerns among economists, traders and consumers, particularly as Nepal relies heavily on imported goods and services.

Nepal imports a wide range of products, from petroleum and medicines to electronics, vehicles and industrial raw materials. Since most international transactions are conducted in US dollars, a stronger dollar directly increases the country’s import bill. Businesses say the cost of opening letters of credit (LCs) has already started rising, pushing overall trading expenses upward.

The impact is expected to gradually spread into the consumer market. Prices of fuel, mobile phones, computers, medicines and other imported goods could increase if the dollar remains elevated for a longer period. Economists warn that higher import costs may eventually fuel inflation across the broader economy.

The recent surge in the dollar is largely linked to global financial developments. The US Federal Reserve has signaled that interest rates may remain high for longer than expected, encouraging investors to move toward safer assets. As uncertainty continues in the global economy, demand for the US dollar has increased sharply, reinforcing its strength worldwide.

Growing geopolitical tensions in the Middle East, volatility in oil prices and concerns over global economic stability have also strengthened the dollar’s position as a “safe haven” currency. At the same time, weakness in the Indian rupee has added further pressure on Nepal’s currency. Since the Nepali rupee is pegged to the Indian rupee, any depreciation in the Indian currency directly affects Nepal as well.

Importers are among the first groups feeling the impact. Traders say business costs are rising as they require more rupees to settle dollar-based payments. If the current trend continues, transportation costs, industrial production expenses and consumer prices could all rise in the coming months.

Nepali students studying abroad are also facing increasing financial pressure. Tuition fees, accommodation expenses and daily living costs in many countries are paid in dollars, meaning families now need to spend significantly more in Nepali currency.

Workers preparing for foreign employment and businesses dependent on imports are similarly affected by the strengthening dollar. However, there is one positive side to the trend. Families receiving remittances from abroad may benefit, as every dollar exchanged now converts into more Nepali rupees.

Still, economists argue that the broader economic burden created by expensive imports and inflation is likely to outweigh the benefits gained from remittance income.

While the dollar continues climbing, some other foreign currencies have shown mixed movement. The euro, pound sterling and Australian dollar have weakened slightly, whereas currencies such as the Kuwaiti dinar and Bahraini dinar have become more expensive in Nepal.

Nepal Rastra Bank says it continues managing exchange rates based on foreign currency reserves, import-export conditions and international market developments. However, analysts believe that if global demand for the US dollar remains strong, the Nepali rupee could face even greater pressure in the days ahead.