The US dollar has broken all previous records in Nepal, reaching an all-time high against the Nepali rupee, according to the latest foreign exchange rates. The sharp rise of the American currency has raised concerns over increasing import costs and growing pressure on the country’s economy.
As per the current rates, one US dollar is being traded at Rs 145.95, marking the highest level ever recorded. Other major currencies have also strengthened, with one euro at Rs 171.56 and the UK pound at Rs 195.83, reflecting a broader weakening of the Nepali rupee.
Economists attribute the surge to strong global demand for the US dollar, driven by international market uncertainty and tighter monetary policies in major economies. Since Nepal relies heavily on imports for fuel, food items, and industrial goods, the record-high exchange rates are expected to push up prices and add to inflationary pressure.
The rising dollar is likely to impact fuel prices, transportation costs, and consumer goods, directly affecting household budgets. While exporters and remittance earners may benefit in the short term, businesses dependent on foreign payments are expected to face higher operational expenses.
Nepal Rastra Bank has stated that the movement of the Nepali rupee largely follows the Indian rupee, which has also weakened against the US dollar. The central bank said it is closely monitoring the situation and will take necessary measures to maintain financial stability.
Analysts warn that continued depreciation of the rupee could pose challenges for economic recovery, urging careful monetary and fiscal management in the days ahead.