Nepal Rastra Bank (NRB), the central bank of Nepal, has released the official foreign exchange rates for Sunday. According to the announcement, the bank has fixed the exchange rates for various international currencies including the US Dollar, Euro, British Pound, Swiss Franc, and other major currencies that play a significant role in Nepal’s trade and remittance-based economy.
As per the rate set for today, the buying rate of one US Dollar stands at NPR 136.30, while the selling rate is NPR 136.90. The US Dollar continues to maintain a steady position in the foreign exchange market, largely influenced by global trends and its high demand in Nepal, especially in the context of imports and remittance inflows.
Similarly, the European Euro is being bought at NPR 155.03 and sold at NPR 155.71. The Euro, representing the economies of the European Union, is another vital currency in Nepal’s foreign reserve composition, especially considering the remittance received from Nepali migrants working in Europe and the increasing trade relations with the EU region.
For the British currency, one UK Pound Sterling is exchanged at the buying rate of NPR 180.96 and the selling rate of NPR 181.76. The Pound Sterling has traditionally been one of the stronger currencies and continues to show a higher valuation in the Nepali market. This is significant due to Nepal’s historic ties with the UK and the presence of a large Nepali diaspora, particularly Gurkhas and their families, in Britain.
The Swiss Franc is also seeing notable rates with the buying price set at NPR 166.58 and the selling price at NPR 167.31. Known for its stability and use in international financial dealings, the Swiss Franc also plays a minor yet important role in Nepal’s overall foreign exchange portfolio.
Moving to the Pacific currencies, the exchange rate for the Australian Dollar has been fixed at NPR 86.89 for buying and NPR 87.27 for selling. Likewise, the Canadian Dollar is valued at NPR 98.38 for buying and NPR 98.81 for selling. These currencies are particularly relevant for Nepal as many students and workers have migrated to Australia and Canada, thereby contributing significantly to the country’s remittance earnings.
The Singapore Dollar, one of Asia’s leading currencies, is being traded at NPR 103.91 for buying and NPR 104.37 for selling. Similarly, the Japanese Yen, which is calculated per 10 units, is being bought at NPR 9.58 and sold at NPR 9.62. The Yen has remained a stable currency in the region, and Nepal benefits from Japanese aid and tourism from Japan.
Among the neighboring and regional currencies, the Chinese Yuan is being bought at NPR 18.66 and sold at NPR 18.75. China’s growing economic ties and increasing investment in Nepal, especially under the Belt and Road Initiative, have made the Yuan a currency of considerable interest. Likewise, the Indian Rupee, which has a fixed exchange rate with the Nepali Rupee, is listed at NPR 160 for 100 INR on the buying side and NPR 160.15 for selling. This rate is of paramount importance as India is Nepal’s largest trading partner and the Indian Rupee is widely accepted across the border regions.
The currencies of the Gulf countries, which host a large population of Nepali migrant workers, also play a key role. The Saudi Arabian Riyal is traded at NPR 36.33 for buying and NPR 36.49 for selling. Similarly, the Qatari Riyal stands at NPR 37.39 and NPR 37.56 respectively. The UAE Dirham is listed at NPR 37.11 for buying and NPR 37.27 for selling. These Gulf currencies are particularly significant given that remittances from countries like Saudi Arabia, Qatar, and the UAE constitute a major portion of Nepal’s foreign income.
In East Asia, the South Korean Won (per 100 units) is being traded at NPR 9.57 for buying and NPR 9.62 for selling. With a considerable number of Nepali workers in South Korea under the Employment Permit System (EPS), the Korean Won is a regularly traded currency in the remittance sector.
Among the lesser traded yet noteworthy currencies, the Thai Baht is listed at NPR 4.08 for buying and NPR 4.10 for selling. The Malaysian Ringgit is being exchanged at NPR 30.88 for buying and NPR 31.02 for selling. Both countries are popular destinations for Nepali workers and tourists, contributing to the necessity of setting these exchange rates.
The Scandinavian currencies also find a place in the exchange rate list. The Swedish Krona is valued at NPR 14.17 for buying and NPR 14.23 for selling, while the Danish Krone stands at NPR 20.76 and NPR 20.85 respectively. Though not widely traded in Nepal, their inclusion highlights the diversification of Nepal’s foreign currency dealings.
Moreover, the Hong Kong Dollar is being exchanged at NPR 17.56 for buying and NPR 17.64 for selling. The Kuwaiti Dinar, known as the world’s highest-valued currency, is listed at a substantial NPR 444.54 for buying and NPR 446.50 for selling. Likewise, the Bahraini Dinar is being bought at NPR 361.61 and sold at NPR 363.20. The Omani Riyal is set at NPR 354.03 for buying and NPR 355.59 for selling. These Middle Eastern currencies are crucial in the context of remittances and employment-based foreign exchange inflows.
According to Nepal Rastra Bank, these exchange rates are subject to change as per requirement, and the bank holds the authority to revise the rates at any time. The central bank has also clarified that commercial banks may offer slightly different exchange rates based on open market operations. For the latest and most accurate rates, the bank has advised the public and institutions to refer to its official website.
This daily publication of exchange rates by NRB not only ensures transparency and consistency in the financial market but also aids businesses, importers, exporters, and the general public in making informed decisions related to foreign currency transactions.
