27 August, KATHMANDU: The Nepali rupee has fallen to a record all time low of more than Rs 105 against US dollar on Tuesday as Indian rupee continually depreciated against the U.S dollar.
The Nepal Rastra Bank has fixed the reference selling rate of one USD at Rs.105.31 for Wednesday.
Similarly, the reference buying rate is fixed at Rs. 104.71.
The Indian rupee plunged to a record low of record low of IRs 66.075 against the dollar today, pulling down the pegged Nepali currency too.
Although the central bank fixed selling rate of USD at Rs. 103.01 for today, most of the commercial banks traded dollar above Rs. 105.
As per the existing system, the market exchange rates quoted by the commercial banks may, however, differ.
Amid voices to readjust or remove peg of the Nepali rupee with Indian currency, NRB Governor Yuba Raj Khatiwada has said that said delinking the peg at the moment could bring more problems to the economy.
