The value of the US Dollar has surged to a record high against the Nepali Rupee, creating fresh economic pressure in Nepal. According to the latest foreign exchange rates released by Nepal Rastra Bank, the dollar has crossed NPR 147, marking the highest exchange rate in Nepal’s history and raising concerns over rising prices and import costs.
Nepal Rastra Bank has fixed the buying rate of one US Dollar at NPR 146.81 and the selling rate at NPR 147.41. This new record breaks all previous highs and shows continued weakness of the Nepali Rupee. Just a few weeks ago, the dollar was trading below NPR 145, but the rate has climbed rapidly within a short period.
The Nepali Rupee has been under pressure mainly due to Nepal’s heavy dependence on imports. The country relies on foreign goods such as fuel, vehicles, machinery, electronics, and daily consumer products. As the dollar strengthens, importing these goods becomes more expensive, directly affecting prices in the local market.
Despite strong remittance inflows, Nepal’s trade deficit remains wide. While remittances help increase foreign currency reserves, they have not been enough to offset the rising demand for US Dollars used to pay for imports. Political uncertainty and slow economic recovery have also weakened confidence in the Nepali currency.
The impact of the rising dollar is already being felt by the public. Prices of imported goods are expected to rise further, which may increase inflation and strain household budgets. Transportation costs, fuel prices, and business operating expenses are likely to increase, affecting both consumers and small businesses.
On the other hand, families receiving remittances in US Dollars may benefit, as the same amount of foreign currency now converts into more Nepali Rupees. This may support household spending, but does not fully balance the broader economic impact.
The government also faces increased pressure as foreign loan repayments become more expensive in rupee terms. Exporters may see limited benefits due to a weaker rupee, but Nepal’s export base is small, so the overall advantage remains modest.
Economists warn that without long-term reforms such as boosting exports, reducing import dependency, and ensuring political stability, the Nepali Rupee could weaken further. Nepal Rastra Bank continues to monitor the situation closely, but no immediate intervention has been announced.
If the current trend continues, Nepal may face higher inflation and slower economic growth in the coming months. Experts advise businesses and the public to stay informed as global and domestic factors continue to influence currency movements.
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