The dollar depreciated by 3.5 percent against the Nepalese rupee

KATHMANDU: The Nepalese rupee has appreciated against the US dollar. The financial position report for the first seven months of the current fiscal year released by the Nepal Rastra Bank shows that the Nepali currency has strengthened based on the exchange rate against the dollar.

Compared to the mid-Ashad of the previous fiscal year, the Nepali currency appreciated by 3.5 percent against the dollar in mid-Magh of the current fiscal year. However, the Nepalese currency had depreciated by 3.9 percent against the US dollar in the corresponding period of the previous year.

Similarly, in mid-Magh 2077, the buying rate of US dollar was Rs. 116.27. However, in mid-Ashad 2077, the exchange rate was 120 rupees 37 paise.

Entrepreneur, the Nepalese economy has little role to play in the appreciation or devaluation of the Nepalese currency against the dollar. As the Indian currency has a stable exchange rate of Nepali currency (1: 1.60), the effect on the Nepali currency will be seen only if the Indian currency is stronger against the dollar.