Foreign exchange rate movement up to June 12, 2020. Source: Nepal Rastra Bank
Foreign exchange rate movement up to June 12, 2020. Source: Nepal Rastra Bank

The rupee depreciated against all major currencies this week. It depreciated significantly by 1.9% against Yen and by 1.7% against Euro this week compared to previous week.

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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