US dollar becomes further strong

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

According to the Nepal Rastra Bank (NRB) foreign exchange rate for today, 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 nation’s economy.

Although the rise in the dollar’s value will have a positive impact on remittance influx, the nation’s economy will in overall 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 its impact on the Indian currency and this will have its effects on Nepali currency as well.