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Nepali Rupee At ‘All Time Low‘ Plunges To 122.61 vs USD

The depreciation of Indian rupee has hit the Nepali rupee, dragging it to an all-time low of NPR 122.61 against the US dollar.
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Nepali Rupee At ‘All Time Low‘ Plunges To 122.61 vs USD

The coronavirus pandemic has caused economic implications and led to the continuous depreciation of Indian rupee vis-à-vis the US dollar since weeks.

The Indian currency has slid to an all-time low of INR 76.44 against the US dollar on April 15, 2020. And, the slump in the Indian rupee is rooted in concerns related to weak domestic equities and strengthening of the American currency overseas.

As the Nepali currency is pegged with the Indian currency, the continuous depreciation of Indian rupee has hit the Nepali rupee, dragging it to an all-time low of NPR 122.61 against the US dollar on April 16.

According to the Nepal Rastra Bank, the reference exchange rate for April 16 is NPR 122.61 against NPR 122.34 per dollar on April 15, 2020.

Nepal Rastra Bank (NRB) - Central Bank of Nepal

So far, Nepal has reported 14 coronavirus infection cases. However, the first case has already recovered and discharged.

As of today, coronavirus has infected 2,084,733 people and claimed 134,685 lives globally. Meanwhile, 515,450 patients have recovered and returned home.

Stay Tuned to Nepali Sansar for Latest Nepal Business Updates!

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