Foreign exchange rate movement up to Aug 07, 2020. Source: Nepal Rastra Bank
Foreign exchange rate movement up to Aug 07, 2020. Source: Nepal Rastra Bank

The rupee depreciated against all major currencies except Yen compared to previous week. Euro and Sterling continue to rise reaching record high in past 31 months.

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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