Nepali currency weakens as dollar value rose

Photo Courtesy: Reuters

Kathmandu: A new record has been set with the rise in the value of the US dollar.

The Nepali rupee has become the weakest in history against the dollar. Nepal Rastra Bank has fixed the selling rate of 129.68 rupees equal to 1 dollar on Friday.

This value of the dollar is the highest so far. In recent months, the graph of the dollar has been rising. According to Nepal Rastra Bank, the Nepali rupee is getting weaker every day.

Due to the Russia-Ukraine war, the US economy is getting stronger, the dollar is becoming more expensive in the world market. As the dollar strengthens, the Indian currency is weakening.

As Indian currency weakens, its impact is also felt on Nepali rupee.