US dollar reached an all-time high, signs of rising prices
The US dollar is currently gaining ground against other world currencies.
KATHMANDU: The US dollar reached an all-time high against the Nepalese currency on Thursday.
The buying price of one dollar today is 125 rupees 12 paise, and the selling price is 125 rupees 72 paise.
The US dollar is currently gaining ground against other world currencies. The US dollar surged after the Federal Reserve raised interest rates.
However, the Nepalese taka has not automatically depreciated against the US dollar. The Nepalese currency is pegged to the Indian currency at a constant exchange rate. As a result, when the Indian currency strengthens against the dollar, the value of the dollar falls in Nepal. When the US dollar strengthens against the Indian rupee, its value rises in Nepal.
The value of imported goods rises as the dollar rises, particularly in US dollars. This increases the overall cost.