Nepal Rastra Bank (NRB), the central bank of Nepal, has released the official exchange rates for foreign currencies applicable for today. The rates cover a wide range of global currencies, reflecting fluctuations in international markets as well as the relative strength of the Nepali rupee. According to NRB, these rates are set for guidance and may be subject to revision at any time depending on market conditions.
US Dollar and Major Global Currencies
The central bank has fixed the buying rate of one US dollar at Rs. 140.95 and the selling rate at Rs. 141.55. The US dollar continues to remain one of the most actively traded currencies in Nepal due to its significance in international trade, remittances, and tourism-related transactions.
Similarly, the European Euro has been valued with a buying rate of Rs. 165.30 and a selling rate of Rs. 166.00. The UK Pound Sterling, another major global currency, has been set at a buying rate of Rs. 191.05 and a selling rate of Rs. 191.86. These rates highlight the relative strength of European currencies compared to the US dollar and the Nepali rupee. The Swiss Franc, widely regarded as a stable currency, has been priced at Rs. 176.93 for buying and Rs. 177.68 for selling.
Exchange Rates for Asia-Pacific Currencies
Among the Asia-Pacific currencies, the Australian Dollar has been fixed at Rs. 93.68 (buying) and Rs. 94.07 (selling), while the Canadian Dollar stands at Rs. 101.86 and Rs. 102.29 respectively.
The Singapore Dollar has been priced at Rs. 109.86 for buying and Rs. 110.32 for selling. Meanwhile, the Japanese Yen for 10 units has been valued at Rs. 9.54 (buying) and Rs. 9.58 (selling), reflecting the lower denomination of the yen compared to other major currencies. The Chinese Yuan has been set at Rs. 19.79 for buying and Rs. 19.88 for selling, underscoring Nepal’s growing trade relations with China.
Middle Eastern Currencies
The exchange rates for Middle Eastern currencies, which are particularly important for Nepal due to the large number of Nepali migrant workers in Gulf countries, have also been published. The Saudi Arabian Riyal is fixed at Rs. 37.57 (buying) and Rs. 37.73 (selling), while the Qatari Riyal has been set at Rs. 38.67 and Rs. 38.83 respectively.
Similarly, the UAE Dirham stands at Rs. 38.38 (buying) and Rs. 38.54 (selling). The Kuwaiti Dinar, one of the strongest currencies in the world, has been priced at Rs. 461.54 for buying and Rs. 463.51 for selling. Other Middle Eastern currencies include the Bahraini Dinar at Rs. 373.85 (buying) and Rs. 375.44 (selling), and the Omani Riyal at Rs. 366.08 (buying) and Rs. 367.64 (selling).
South and Southeast Asian Currencies
The Thai Baht has been valued at Rs. 4.44 (buying) and Rs. 4.46 (selling). The Malaysian Ringgit has been fixed at Rs. 33.52 for buying and Rs. 33.66 for selling. The South Korean Won, for 100 units, is priced at Rs. 10.13 (buying) and Rs. 10.18 (selling).
Additionally, the Swedish Kroner has been fixed at Rs. 15.11 (buying) and Rs. 15.17 (selling), while the Danish Kroner is valued at Rs. 22.14 (buying) and Rs. 22.24 (selling). The Hong Kong Dollar stands at Rs. 18.11 for buying and Rs. 18.19 for selling, reflecting the currency’s role as a hub for trade and financial transactions in Asia.
Indian Rupee Exchange Rate
Given Nepal’s close economic ties with India, the exchange rate of the Indian rupee holds special significance. NRB has fixed the buying rate of INR 100 at Rs. 160.00 and the selling rate at Rs. 160.15. The peg between the Nepali rupee and Indian rupee is closely monitored, as it plays a critical role in Nepal’s trade balance and monetary policy.
Importance of Exchange Rate Updates
The regular updates provided by Nepal Rastra Bank serve as a vital reference point for businesses, travelers, importers, exporters, and financial institutions. By publishing daily rates, the central bank ensures stability and transparency in foreign currency transactions. These rates also serve as a benchmark for commercial banks and exchange counters, though NRB has clarified that commercial banks may set slightly different rates depending on market dynamics.
Provision for Revisions
The central bank has also stated that the published exchange rates may be revised at any time if deemed necessary. This flexibility allows the central bank to respond to sudden fluctuations in global currency markets, thereby maintaining economic stability within Nepal. For real-time updates, the NRB has made the official rates accessible on its website.
The Nepal Rastra Bank’s publication of today’s exchange rates provides a comprehensive outlook on the value of the Nepali rupee against major global currencies. With the US dollar at Rs. 141.55 for selling, the Euro at Rs. 166.00, and the Indian rupee pegged at Rs. 160.15 per 100 units, the rates underline both the challenges and opportunities for Nepal’s economy. For businesses, migrant workers, and travelers alike, these rates play a pivotal role in shaping financial decisions. As international markets remain volatile, NRB’s daily exchange rate updates will continue to be a crucial guide for economic planning and transactions in Nepal.
