Nepal Rastra Bank has officially set the exchange rates for various foreign currencies as of today. These exchange rates determine the buying and selling prices for different international currencies in the Nepali market. The exchange rates, as announced by the central bank, reflect the value of the Nepali rupee against major global currencies, including the US Dollar, Euro, British Pound, and others.
According to the central bank’s announcement, the buying rate for one US Dollar has been set at NPR 136.12, while the selling rate is NPR 136.72. This means that Nepali citizens or businesses looking to buy or sell US Dollars will deal with these specific rates. In comparison, the Euro has a buying rate of NPR 154.97 and a selling rate of NPR 155.65. Similarly, the British Pound has been pegged at NPR 181.25 for the buying rate and NPR 182.05 for the selling rate. The Swiss Franc’s rates are also outlined, with the buying rate set at NPR 164.86 and the selling rate at NPR 165.59.
In addition to these major currencies, the central bank has also published the exchange rates for several other currencies. For the Australian Dollar, the buying rate is NPR 86.89, and the selling rate is NPR 87.28. The Canadian Dollar is set at NPR 98.21 for buying and NPR 98.64 for selling.
The Singapore Dollar stands at NPR 103.79 for buying and NPR 104.25 for selling. For the Japanese Yen, the buying rate for 10 yen has been set at NPR 9.56, while the selling rate is NPR 9.60. The Chinese Yuan has a buying rate of NPR 18.67 per Yuan and a selling rate of NPR 18.76. The Saudi Riyal has been pegged at NPR 36.29 for buying and NPR 36.45 for selling, while the Qatari Riyal stands at NPR 37.35 for buying and NPR 37.51 for selling.
Furthermore, the exchange rates for currencies like the Thai Baht, UAE Dirham, Malaysian Ringgit, South Korean Won, Swedish Krona, and Danish Kroner have also been specified. For instance, the Thai Baht has a buying rate of NPR 4.07 and a selling rate of NPR 4.09. The UAE Dirham is set at NPR 37.06 for buying and NPR 37.22 for selling.
The Malaysian Ringgit stands at NPR 31.13 for buying and NPR 31.26 for selling. The South Korean Won, priced per 100 Won, has a buying rate of NPR 9.49 and a selling rate of NPR 9.53. Meanwhile, the Swedish Krona is valued at NPR 14.19 for buying and NPR 14.25 for selling, and the Danish Kroner is set at NPR 20.76 for buying and NPR 20.85 for selling.
Special exchange rates have also been announced for the Hong Kong Dollar, Kuwaiti Dinar, Bahraini Dinar, and Omani Rial. The Hong Kong Dollar is set at a buying rate of NPR 17.54 and a selling rate of NPR 17.62, while the Kuwaiti Dinar has been pegged at NPR 444.05 for buying and NPR 446.01 for selling. The Bahraini Dinar is set at NPR 361.12 for buying and NPR 362.72 for selling, and the Omani Rial is valued at NPR 353.54 for buying and NPR 355.09 for selling.
Lastly, the Indian Rupee, which holds significant importance in Nepal’s trade and tourism, is also included in the exchange rate list. The buying rate for 100 Indian Rupees has been fixed at NPR 160, with the selling rate standing at NPR 160.15.
The central bank has emphasized that these exchange rates may be subject to revision at any time, depending on market conditions. As such, it is crucial for individuals, businesses, and financial institutions to stay updated with the latest rates to make informed decisions. The updated exchange rates can be found on the official website of Nepal Rastra Bank.
Furthermore, the bank has clarified that the exchange rates set by commercial banks may vary depending on the open market conditions. Commercial banks typically offer different rates based on supply and demand, which can fluctuate throughout the day. Therefore, those dealing with foreign currencies are advised to keep an eye on the central bank’s website for the most accurate and up-to-date information.
This announcement comes at a time when the global economy is experiencing various shifts due to inflationary pressures, trade imbalances, and geopolitical developments. The fluctuations in the exchange rates of foreign currencies against the Nepali Rupee are likely to impact the import and export sectors, travel and tourism, and remittance flows, which play a crucial role in Nepal’s economy.
The decision to regularly update and publish foreign exchange rates is part of Nepal Rastra Bank’s ongoing efforts to ensure transparency and stability in the country’s financial system. By providing clear and updated exchange rates, the central bank aims to help both individuals and businesses manage their foreign currency transactions more effectively.
As the global economy continues to evolve, exchange rates will remain a key area of focus for businesses, government policymakers, and individuals engaged in international trade and travel. With Nepal’s growing tourism industry and increasing cross-border trade, the importance of managing currency exchange rates effectively cannot be overstated.
The exchange rates set by Nepal Rastra Bank reflect the current market conditions and provide a benchmark for all currency-related transactions in Nepal. Stakeholders in various sectors, especially those in tourism, trade, and finance, are advised to monitor these rates closely to make informed decisions and minimize the risks associated with currency fluctuations.
