Kathmandu [Nepal], July 21 – Nepal’s central bank on Tuesday raised the exchange rates of most major foreign currencies against the Nepalese rupee with the US dollar, euro, British pound, Australian dollar, Kuwaiti dinar and Bahraini dinar all posting gains.
According to the Nepal Rastra Bank’s latest foreign exchange rates the buying rate for the US dollar increased to Rs 154.02, while the selling rate rose to Rs 154.62. On Monday the buying and selling rates stood at Rs 153.76 and Rs 154.36, respectively.
Despite the latest increase, the dollar remains below its record high reached on May 21 when the buying rate climbed to Rs 154.62 and the selling rate to Rs 155.22, the highest level recorded against the Nepalese rupee.
The euro also strengthened with the buying rate set at Rs 176.03 and the selling rate at Rs 176.72 up from Monday’s Rs 175.89 and Rs 176.59. The British pound rose to Rs 207.32 for buying and Rs 208.13 for selling while the Australian dollar advanced to Rs 107.78 and Rs 108.20 respectively.
Among Gulf currencies, the Kuwaiti dinar increased to Rs 500.72 for buying and Rs 502.67 for selling. The Bahraini dinar also appreciated with buying and selling rates fixed at Rs 408.38 and Rs 409.97.
The central bank said the published exchange rates are subject to revision whenever necessary. It also noted that commercial banks may offer different rates based on market conditions with updated official exchange rates available through the Nepal Rastra Bank.
The latest adjustments extend the upward trend seen on Monday reflecting continued strength in major global currencies against the Nepalese rupee.
