Nepalese currency loses its value; Stands at the Rs 113.25 per 1 US Dollar

The value of Nepalese currency has fallen to the lowest point in the history. Nepal Rastra Bank has stated the exchange rate for 1 US dollar to be Rs 113.25 for the day.

The growth in value of US dollar has been having its toll on the Indian currency and eventually on the Nepalese currency.

Change in many policies has been taking the US economy to newer heights and due to this reason, other currencies are losing its value in comparison to the US dollar.

If the reports are to be considered, the Indian currency is likely to devaluate by about Rs 3 as compared to the US dollar in the upcoming 3 months. So, the reduction in value seems inevitable at the moment.

For the fiscal year 2074/75, Nepal’s trade loss amounted to Rs 11.62 kharba. And for an import dependent country like Nepal, the fall in value creates more problems. One of the help in the economy will be rise in the value of remittance. Along with this, if the government can increase Foreign Direct Investment in the country, then the fall in value of the Nepalese currency can also be helpful for the country.