Tuesday, December 13, 2011

Nepali Rupees falls all-time low against US Dollar, again


Kathmandu December 13, The Central Bank of Nepal (Nepal Rastra Bank) sets Nepali Rupee at all-time low with exchange rate for one US Dollars at Nepali Rupees 83.70(Buying) / 84.30(Selling), following Indian rupee hitting lifetime low of INR 52.84/85 against the dollar in Mumbai, India, as demand for the US currency soared amid signs of FIIs pulling out money in the wake negative growth in industrial production in October. Previously Rupee was set lowest against USD at 83.60(Buying) / 84.20(Selling) on November 23. Online version of Economic Times (India Times) speculates Indian rupees to further fall to INR 54 against the dollar. That would result greenback to trade at NPR 86+. Nepali Rupees is pegged to Indian Rupees (INR) at NPR 160.00/ 160.15.

Update: December 15, Nepali rupees further plunged to NPR 85.51/86.11 against the dollar.

Update: December 16 , Nepali rupees further slips renewing record low against the dollar for the 4th day in a row. NRB sets NPR 85.77/86.37 against one US dollar.


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