KATHMANDU: The value of Nepali rupee will further depreciate on Friday, fetching Rs 113.49 per each US dollar.
The Nepali currency had set a new record only on Thursday, when the local currency had fallen by 0.69 per cent to Rs 113.25 vis-à-vis the greenback against Rs 112.47 on Wednesday.
Nepali currency has witnessed steep devaluation as the free fall of the Indian rupee — against which the Nepali rupee is pegged — refused to stop on Thursday.
The Indian currency had hit a new low of 70.82 against the US dollar in morning trade.
The weakening of the currency in the last couple of days has been attributed to month-end dollar demand from importers, according to Indian media reports.
The post Rupee at fresh low appeared first on The Himalayan Times.
Written by Sandeep
This news first appeared on https://thehimalayantimes.com/business/rupee-at-fresh-low/ under the title “Rupee at fresh low”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
