US Dollar Reaches Record High Against Nepali Rupee

On Wednesday, the exchange rate of the US dollar reached its highest level in history. Nepal Rastra Bank (NRB) set the buying rate for one US dollar at NPR 135.47 and the selling rate at NPR 136.07. Previously, on December 5, the rate had peaked at NPR 135.89. The surge in the dollar's value has further weakened the Nepali rupee.

The exchange rates of other currencies have also risen. The buying rate for the Euro is NPR 142.68, and the selling rate is NPR 143.32. Similarly, the British Pound Sterling is being traded at a buying rate of NPR 172.89 and a selling rate of NPR 173.66. The Swiss Franc has a buying rate of NPR 153.97 and a selling rate of NPR 154.65.

The Australian Dollar's buying rate is NPR 86.65, with a selling rate of NPR 87.03. Meanwhile, the Canadian Dollar is being traded at a buying rate of NPR 95.62 and a selling rate of NPR 96.04.

The Saudi Arabian Riyal is set at NPR 36.06 for buying and NPR 36.22 for selling. Similarly, the Qatari Riyal has a buying rate of NPR 37.16 and a selling rate of NPR 37.33. The Thai Baht is being traded at a buying rate of NPR 4.02 and a selling rate of NPR 4.03.

Analysts attribute the weakening of the Nepali rupee to the strengthening of the US dollar in the international market and Nepal's current economic situation. The rise in the dollar's value is expected to increase inflationary pressures in Nepal, raising concerns about its impact on the economy.