US dollar hits record high in Nepal, Selling rate reaches Rs 154.86
▸ Part of: Nepal Graduates from LDC Status Amid Economic and Environmental Challenges
The exchange rate of the US dollar in Nepal has reached an all-time high, with the selling rate hitting Rs 154.86. This appreciation is attributed to global currency market volatility, higher demand for foreign currency, and fluctuations in international financial markets. The stronger dollar is expected to increase the cost of imported goods, petroleum products, foreign education, and travel for Nepal, an import-dependent economy. Other major currencies like the euro and British pound have also strengthened against the Nepali rupee.
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