Wednesday, Jul 17 2024 | Time 15:59 Hrs(IST)
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World


Nepali rupee hits an all-time low against dollar

Kathmandu, June 22 (UNI) The Nepali rupee on Friday recorded an all-time low, with Nepal’s central bank fixing the exchange rate at Rs134.15 per US dollar, media reports said.
The Nepali currency was weakened by 31 paisa against the dollar in a single day. The rupee’s fall is attributed to a steady depreciation of the Indian rupee, to which it is pegged, according to The Kathmandu Post.
Experts say Nepal, an import-driven economy, may see a sharp rise in inflation due to the dollar's strength, as almost all goods and services are quoted in dollar terms.
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