Foreign exchange rate movement up to Apr 17, 2020. Source: Nepal Rastra Bank
Foreign exchange rate movement up to Apr 17, 2020. Source: Nepal Rastra Bank

The rupee continues to depreciate against all other major currencies this week compared to previous week. Accordingly, the rupee reaching record low against US Dollar, EURO and Yuan.

Nepalese Rupees (NPR) is pegged with Indian Rupees (INR) at fixed rate of 1.6 (1 INR = 1.6 NPR). Therefore, any movement of INR against other currencies changes NPR in the same direction.

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