Nepal Rastra Bank (NRB), the central bank of Nepal, has published the official foreign currency exchange rates for today. The rates, which determine the buying and selling prices of various foreign currencies against the Nepalese Rupee (NPR), are crucial for businesses, travelers, remitters, and financial institutions across the country.
According to the latest announcement by NRB, the United States Dollar (USD) exchange rate has been set at a buying rate of NPR 135.84 and a selling rate of NPR 136.44. This rate reflects the value at which the central bank will buy USD from banks and the price at which it will sell the currency to them.
Exchange Rates for Major Global Currencies
The European Euro (EUR), widely used across European Union countries, is priced at a buying rate of NPR 154.59 and a selling rate of NPR 155.27. Similarly, the British Pound Sterling (GBP), another significant global currency, has a buying rate of NPR 184.19 and a selling rate of NPR 185.00.
The Swiss Franc (CHF), known for its stability, is valued at NPR 165.25 for buying and NPR 165.98 for selling. These exchange rates indicate a moderate variation reflecting current international currency market trends and local demand.
For the Asia-Pacific region, the Australian Dollar (AUD) is set at NPR 88.41 for buying and NPR 88.80 for selling. The Canadian Dollar (CAD), popular among Nepalese working abroad in Canada, has a buying rate of NPR 99.05 and a selling rate of NPR 99.49. The Singapore Dollar (SGD) is set with a buying rate of NPR 105.81 and a selling rate of NPR 106.28.
Exchange Rates for Asian Currencies
The Japanese Yen (JPY), which is quoted per 10 yen units, is priced at NPR 9.50 for buying and NPR 9.55 for selling. The Chinese Yuan (CNY), reflecting the growing economic ties between Nepal and China, has a buying rate of NPR 18.90 and a selling rate of NPR 18.98.
The Saudi Arabian Riyal (SAR) stands at NPR 36.22 for buying and NPR 36.38 for selling, while the Qatari Riyal (QAR) is set at NPR 37.27 for buying and NPR 37.44 for selling. These Gulf currencies are particularly relevant due to the large number of Nepalese migrant workers in the Middle East.
Further Asian currencies include the Thai Baht (THB) at a buying rate of NPR 4.17 and selling rate of NPR 4.19, the UAE Dirham (AED) at NPR 36.98 (buying) and NPR 37.15 (selling), and the Malaysian Ringgit (MYR) at NPR 32.20 (buying) and NPR 32.34 (selling).
The South Korean Won (KRW), quoted per 100 units, is priced at NPR 9.92 for buying and NPR 9.96 for selling. Scandinavian currencies like the Swedish Krona (SEK) and Danish Krone (DKK) are set at NPR 14.28 and NPR 20.72 for buying, and NPR 14.34 and NPR 20.82 for selling, respectively.
Rates for Middle Eastern and Other Currencies
Nepal Rastra Bank also announced exchange rates for other important currencies. The Hong Kong Dollar (HKD) is at NPR 17.34 for buying and NPR 17.41 for selling. The Kuwaiti Dinar (KWD), known for its high value, has a buying rate of NPR 443.24 and a selling rate of NPR 445.20.
The Bahraini Dinar (BHD) is priced at NPR 360.32 for buying and NPR 361.91 for selling, while the Omani Riyal (OMR) is at NPR 352.85 for buying and NPR 354.41 for selling. These currencies are important for remittances and trade relations.
Exchange Rate for Indian Rupee
Considering the close economic and geographic ties between Nepal and India, the Nepal Rastra Bank has set the exchange rate for the Indian Rupee (INR) in a special category. The buying rate for the Indian Rupee 100 note is NPR 160.00, while the selling rate is NPR 160.15. This relatively stable rate is reflective of the fixed exchange system and the large volume of cross-border transactions.
Flexibility and Updates
Nepal Rastra Bank has clarified that the exchange rates may be adjusted at any time according to market conditions and foreign currency demand and supply. This flexibility is vital to maintaining stability in the foreign exchange market while accommodating fluctuations due to global economic factors.
The central bank further notes that commercial banks and authorized money exchange operators may set their own exchange rates, which can differ slightly from those announced by NRB. These rates depend on their individual operations, costs, and market conditions.
For the convenience of banks, businesses, and the public, the updated exchange rates are regularly published and made accessible on the Nepal Rastra Bank’s official website. This transparency helps maintain an informed foreign exchange market.
Importance of Exchange Rate Announcement
The daily announcement of foreign currency exchange rates by Nepal Rastra Bank is a significant event for many sectors in Nepal. It directly affects importers, exporters, financial institutions, tourists, and the thousands of Nepalese working abroad who send remittances home.
Fluctuations in foreign exchange rates influence the prices of imported goods, cost of travel, and overall economic stability. A stable and transparent foreign exchange rate regime helps boost investor confidence and supports sustainable economic growth.
As Nepal’s economy continues to integrate more deeply with the global market, timely and accurate exchange rate information remains crucial for effective financial planning and decision-making by individuals and businesses alike.
