Nepal Rastra Bank (NRB), the central monetary authority of the country, has published the official foreign exchange rates applicable for Wednesday. The latest rates provide insights into the changing dynamics of foreign currency values against the Nepalese Rupee (NPR), which plays a crucial role in import-export pricing, remittances, and foreign travel. According to NRB, the exchange rates are subject to change at any time based on market conditions, although these rates serve as a reference for banks and financial institutions.
US Dollar Remains a Strong Foreign Currency
Among all currencies, the US Dollar remains the most widely used and influential in the Nepali economy. According to the NRB’s latest update, the buying rate for one US Dollar has been fixed at NPR 136.67, while the selling rate stands at NPR 137.27. This rate reflects a stable but firm position of the dollar in the Nepali market, especially significant for trade and remittance transactions.
Euro, Pound Sterling, and Swiss Franc Maintain Their Value
The European currencies also continue to hold strong ground against the Nepalese Rupee. One Euro has a buying rate of NPR 156.15 and a selling rate of NPR 156.84. Similarly, the British Pound Sterling, which remains one of the highest-valued currencies globally, is being traded at a buying rate of NPR 184.47 and a selling rate of NPR 185.28.
The Swiss Franc also holds significant value, especially in financial markets. Its buying rate has been set at NPR 166.42, with the selling rate reaching NPR 167.15. These currencies are important for transactions involving European trade, education, and tourism-related activities.
Oceania Currencies: Australian and Canadian Dollars
The Australian Dollar has been valued at a buying rate of NPR 89.06 and a selling rate of NPR 89.45. Meanwhile, the Canadian Dollar has been fixed at a buying rate of NPR 99.84 and a selling rate of NPR 100.27. These figures indicate a slight strengthening of both currencies in the South Asian region, impacting students, travelers, and businesses operating between Nepal and these countries.
Asian Currencies: Yen, Yuan, and Riyals
From Asia, Japan’s currency, the Yen, continues to be monitored closely. The exchange rate for 10 Japanese Yen stands at a buying rate of NPR 9.45 and a selling rate of NPR 9.50. The Chinese Yuan, increasingly influential due to growing Nepal-China trade relations, has been valued at NPR 19.02 (buying) and NPR 19.11 (selling) per unit.
Among Gulf currencies, the Saudi Arabian Riyal has a buying rate of NPR 36.44 and a selling rate of NPR 36.60. The Qatari Riyal is being exchanged at NPR 37.50 (buying) and NPR 37.66 (selling). These rates are crucial for the large Nepali migrant workforce based in the Gulf countries, influencing the inflow of remittances to Nepal.
Southeast Asian and Middle Eastern Currencies
The NRB has also listed several other currencies including those from Southeast Asia and the Middle East. The Thai Baht has a buying rate of NPR 4.19 and a selling rate of NPR 4.21. The UAE Dirham is valued at NPR 37.21 (buying) and NPR 37.37 (selling), which is significant given the UAE is a major labor destination for Nepali citizens.
In addition, the Malaysian Ringgit has been set at a buying rate of NPR 32.27 and a selling rate of NPR 32.41. South Korea’s currency, the Korean Won, is trading at a buying rate of NPR 10.00 per 100 units, with the selling rate at NPR 10.05. These currencies represent the strong presence of Nepali workers and growing tourism and educational ties between Nepal and these nations.
Scandinavian Currencies: Swedish and Danish Kroner
Among the Scandinavian currencies, the Swedish Krona is set at NPR 14.27 for buying and NPR 14.33 for selling. The Danish Krona, another important European currency, has a buying rate of NPR 20.93 and a selling rate of NPR 21.02. These rates are vital for European travelers and business exchanges.
High-Value Gulf Currencies: Dinar and Riyal
The Kuwait Dinar continues to be one of the highest-valued foreign currencies. According to NRB, the buying rate for one Dinar is NPR 446.36, while the selling rate is NPR 448.32. Likewise, the Bahraini Dinar is valued at NPR 362.47 (buying) and NPR 364.06 (selling). The Omani Riyal also holds a premium rate, being exchanged at NPR 355.01 for buying and NPR 356.57 for selling. These currencies are crucial for understanding the economic influence of the Middle Eastern countries in Nepal, especially regarding remittances sent by migrant workers.
Indian Rupee Exchange Rate Fixed
The Indian Rupee, being Nepal’s immediate neighbor and key trading partner, has its exchange rate controlled. The rate for INR 100 is fixed at NPR 160.00 for buying and NPR 160.15 for selling. This exchange rate remains closely monitored as it affects daily cross-border transactions, tourism, and trade.
Rates Subject to Revision
Nepal Rastra Bank has clarified that the published foreign exchange rates are subject to change at any time depending on international financial trends and market fluctuations. The central bank noted that commercial banks may offer slightly different rates for buying and selling currencies, depending on their operational policies.
The public is advised to refer to the official website of Nepal Rastra Bank for the most updated and accurate foreign exchange rates. These rates serve as a guideline for travelers, businesses, remitters, and import-export firms across Nepal.
