Nepal Rastra Bank, the central bank of Nepal, has published the official foreign currency exchange rates effective for today. These rates serve as the benchmark for commercial banks and other financial institutions in the country. The central bank has set both buying and selling rates for various major international currencies, reflecting the ongoing dynamics in the foreign exchange market.
Exchange Rate Details for Major Currencies
According to the Nepal Rastra Bank, the buying rate for one US Dollar has been set at NPR 138.37, while the selling rate stands at NPR 138.97. This slight margin between buying and selling rates ensures liquidity and stability in the foreign exchange market.
The European Euro, another widely traded currency, has a buying rate of NPR 161.21 and a selling rate of NPR 161.91. Similarly, the British Pound Sterling is valued higher with a buying rate of NPR 185.62 and a selling rate of NPR 186.43.
The Swiss Franc, a currency often considered a safe haven, has been set at a buying rate of NPR 172.70 and a selling rate of NPR 173.45. These rates are crucial for traders and businesses dealing in imports and exports with European and global markets.
Exchange Rates for Other Popular Currencies
Several other prominent currencies have also been assigned specific buying and selling rates by the Nepal Rastra Bank. The Australian Dollar is pegged with a buying rate of NPR 90.31 and a selling rate of NPR 91.70, while the Canadian Dollar stands at NPR 100.78 (buying) and NPR 101.22 (selling).
The Singapore Dollar commands a buying rate of NPR 107.72 and a selling rate of NPR 108.19, highlighting its significance in the regional economic framework.
Japan’s Yen, an influential Asian currency, is quoted at NPR 9.32 for buying per 10 Yen and NPR 9.36 for selling. The Chinese Yuan, reflecting Nepal’s close trade ties with China, is set at NPR 19.29 (buying) and NPR 19.37 (selling). Other Gulf currencies such as the Saudi Arabian Riyal and Qatari Riyal are valued at NPR 36.89 (buying) and NPR 37.05 (selling), and NPR 37.96 (buying) and NPR 38.12 (selling), respectively.
Rates for Regional and Middle Eastern Currencies
The bank has also issued rates for several regional and Middle Eastern currencies that are important for Nepal’s expatriate community and trade partners. The Thai Baht is valued at NPR 4.27 for buying and NPR 4.29 for selling, while the UAE Dirham stands at NPR 37.67 and NPR 37.84 respectively. The Malaysian Ringgit has a buying rate of NPR 32.70 and a selling rate of NPR 32.85.
South Korea’s Won (per 100 units) is set at NPR 9.98 for buying and NPR 10.03 for selling. Nordic currencies such as the Swedish Krona and Danish Kroner have buying rates of NPR 14.45 and NPR 21.60, and selling rates of NPR 14.51 and NPR 21.70 respectively.
Exchange Rates for Other Key International Currencies
Nepal Rastra Bank has further announced rates for the Hong Kong Dollar, Kuwaiti Dinar, Bahraini Dinar, and Omani Riyal, which have significant influence due to the remittance inflows and trade relations with these countries.
The Hong Kong Dollar’s buying rate is NPR 17.63, with a selling rate of NPR 17.70. The Kuwaiti Dinar remains one of the highest valued currencies in the list, with buying and selling rates of NPR 453.27 and NPR 455.24 respectively. Similarly, the Bahraini Dinar is priced at NPR 367.09 (buying) and NPR 368.68 (selling), while the Omani Riyal is set at NPR 359.39 and NPR 360.95 respectively.
Indian Rupee Exchange Rate and Additional Notes
Given the close economic ties between Nepal and India, the Indian Rupee’s exchange rate holds special significance. Nepal Rastra Bank has set the buying rate for NPR 160 per 100 Indian Rupees and a selling rate of NPR 160.15 per 100 Indian Rupees.
The central bank has clarified that these foreign exchange rates may be revised anytime depending on market conditions and other economic factors. Commercial banks may set their own exchange rates within the framework of these central rates, and these can vary slightly. The updated exchange rates are also available on the Nepal Rastra Bank’s official website for public reference.
Implications for Traders, Businesses, and Travelers
The daily announcement of foreign exchange rates by Nepal Rastra Bank plays a vital role in maintaining transparency and stability in Nepal’s foreign exchange market. It provides crucial guidance for importers, exporters, remitters, tourists, and financial institutions.
Fluctuations in these rates can impact the cost of imports, the value of remittances from abroad, and the competitiveness of Nepalese products in international markets. Therefore, close monitoring of these rates is essential for stakeholders across the economic spectrum.
Nepal Rastra Bank’s proactive management of foreign currency exchange rates reflects its commitment to ensuring a stable and efficient financial system. By providing clear and timely exchange rate information, the bank supports Nepal’s growing integration with the global economy and assists businesses and individuals in making informed financial decisions.
