Foreign exchange rate movement up to July 31, 2020. Source: Nepal Rastra Bank
Foreign exchange rate movement up to July 31, 2020. Source: Nepal Rastra Bank

The rupee depreciated against all major currencies compared to previous week. Euro reached record high in past 30 months whilst Sterling reached record high in past 95 weeks.

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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