US dollar becomes further strong

NL Today

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The value of the US dollar is gradually skyrocketing thus making the Nepali currency weaker.

According to the Nepal Rastra Bank (NRB), the central bank of Nepal, the purchasing rate of the US dollar is Rs 132.42 while the selling rate is Rs 132.02 per unit.

The rising value of the dollar is estimated to hurt the nation’s economy. Although the rise in the dollar’s value will have a positive impact on the remittance influx, the overall economy will face its consequences.

Inflation, additional investment in the payment for foreign consultants, and the additional burden in the payment of foreign debt and its interest are some of the major consequences of it.

The rise in US dollar value has an impact on the Indian currency and this will have its effects on Nepali currency as well.