The Nepal Rastra Bank (NRB), the central bank of Nepal, has released the official foreign exchange rates for Monday. These rates, which determine the buying and selling values of various international currencies in Nepali Rupees (NPR), are crucial for importers, exporters, travelers, and financial institutions operating within and outside the country.
USD, Euro, and Pound Sterling: Key Reserve Currencies
According to NRB, the buying rate for one US dollar has been fixed at NPR 136.47, while the selling rate is NPR 137.07. The US dollar continues to serve as a benchmark currency in global trade and foreign reserves, making its fluctuations significant in the Nepalese economy.
Similarly, for the European Euro, the buying rate has been set at NPR 159.94 and the selling rate at NPR 160.65. As one of the strongest currencies globally, changes in the Euro impact Nepal’s remittance inflows and trade with Eurozone countries. The British Pound Sterling is trading at NPR 187.18 (buying) and NPR 188.00 (selling), reflecting its continued strength despite recent market volatilities.
Other Major International Currencies
Among other globally traded currencies, the Swiss Franc has been valued at NPR 170.79 for buying and NPR 171.54 for selling. The Australian Dollar stands at NPR 89.12 for buying and NPR 89.51 for selling, while the Canadian Dollar is priced at NPR 99.74 (buying) and NPR 100.18 (selling). For the Singapore Dollar, the buying rate is NPR 106.96 and the selling rate is NPR 107.43. These currencies are significant due to trade, investment, and labor migration ties between Nepal and these countries.
Asian Regional Currencies
The Japanese Yen, calculated per 10 units, is listed at NPR 9.43 (buying) and NPR 9.47 (selling). Similarly, the Chinese Yuan is trading at NPR 19.03 for buying and NPR 19.11 for selling. In the Middle East, where a large number of Nepali migrant workers reside, the Saudi Arabian Riyal is valued at NPR 36.39 (buying) and NPR 36.55 (selling), while the Qatari Riyal stands at NPR 37.34 (buying) and NPR 37.50 (selling). These figures are particularly important for the remittance economy of Nepal, which relies heavily on labor income from Gulf nations.
Other Currencies: From Southeast Asia to Scandinavia
The Thai Baht is trading at NPR 4.19 (buying) and NPR 4.21 (selling), and the UAE Dirham is priced at NPR 37.16 (buying) and NPR 37.32 (selling). The Malaysian Ringgit has been valued at NPR 32.27 for buying and NPR 32.41 for selling, while the South Korean Won (per 100 units) is trading at NPR 10.00 (buying) and NPR 10.04 (selling). In the Scandinavian region, the Swedish Krona is pegged at NPR 14.38 (buying) and NPR 14.44 (selling), and the Danish Krone at NPR 21.44 (buying) and NPR 21.53 (selling).
Exchange Rates for Gulf and Special Currencies
The Hong Kong Dollar is now being exchanged at NPR 17.38 (buying) and NPR 17.46 (selling), a commonly used currency among travelers and traders.
Some of the highest-valued currencies listed include:
- Kuwaiti Dinar: NPR 447.00 (buying) and NPR 448.97 (selling)
- Bahraini Dinar: NPR 361.85 (buying) and NPR 363.44 (selling)
- Omani Riyal: NPR 354.45 (buying) and NPR 356.01 (selling)
These currencies are crucial for high-volume remittance and investment inflows from Gulf countries.
Indian Rupee Exchange Rate
The Indian Rupee, which is pegged and regulated due to strong economic and trade links with Nepal, remains stable. For every 100 Indian Rupees, NRB has fixed the buying rate at NPR 160.00 and the selling rate at NPR 160.15. Due to the open border and high volume of cross-border trade and transactions, the Indian Rupee’s exchange rate remains under close scrutiny.
Exchange Rate Policy and Updates
Nepal Rastra Bank has clarified that the exchange rates released are subject to revision at any time, based on international market fluctuations and domestic monetary policy needs. The bank emphasized that these are reference rates and actual buying/selling rates may differ slightly at commercial banks.
Furthermore, NRB has advised the public and financial institutions to refer to the central bank’s official website for real-time and updated rates. It also noted that commercial banks may determine their own rates within certain margins as allowed by NRB’s regulations.
The daily exchange rates published by Nepal Rastra Bank are a vital reference for various sectors of the economy, from import/export businesses to tourism and remittance services. As foreign exchange remains a dynamic and sensitive component of Nepal’s financial landscape, regular updates and vigilance are necessary for stakeholders to make informed financial decisions.
